erp1965 appendixes 2

Appendix B

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

18s

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTSNational income or expenditure: Page

B-l. Gross national product or expenditure, 1929-64 189B-2. Gross national product or expenditure, in 1964 prices, 1929-64 190B-3. Gross national product or expenditure, in 1954 prices, 1929-64 192B-4. Gross national product by major type of product, 1947-64 194B-5. Gross national product by major type of product, in 1954 prices,

1947-64 ' 195B-6. Implicit price deflators for gross national product, 1929-64 196B-7. Gross national product: Receipts and expenditures by major economic

groups, 1929-64 198B-8. Gross private and government product, in current and 1964 prices,

1929-64 200B-9. Personal consumption expenditures, 1929-64. 201B-10. Gross private domestic investment, 1929-64 202B-l 1. National income by type of income, 1929-64 203B-12. Relation of gross national product and national income, 1929-64. . . . 204B-l 3. Relation of national income and personal income, 1929-64 205B-14. Sources of personal income, 1929-64 206B-l 5. Disposition of personal income, 1929-64 208B-l 6. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1964 prices, 1929-64 209B-l7. Number and money income of families and unrelated individuals,

1947-63 210B-l 8. Financial saving by individuals, 1939-64 211B-l9. Sources and uses of gross saving, 1929-64 212

Population, employment, wages, and productivity:B-20. Population by age groups: Estimates, 1929-64, and projections, 1970-85 . 213B-21. Noninstitutional population and the labor force, 1929-64 214B-22. Employment and unemployment, by sex and age, 1947-64 216B-23. Selected measures of unemployment and part-time employment,

1948-64 217B-24. Unemployed persons, by duration of unemployment, 1947-64 219B-25. Unemployment insurance programs, selected data, 1940-64 218B-26. Number of wage and salary workers in nonagricultural establishments,

1929-64 220B-27. Average weekly hours of work in selected industries, 1929-64 222B-28. Average gross hourly earnings in selected industries, 1929-64 223B-29. Average gross weekly earnings in selected industries, 1929-64 224B-30. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-64 225B-31. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1964 prices, 1939-64 226B-32. Indexes of output per man-hour and related data, 1947-64 227

Production and business activity:B-33. Industrial production indexes, industry groupings, 1947—64 228B-34. Industrial production indexes, market groupings, 1947-64 230B-35. Manufacturing capacity, output, and utilization rate, 1948-64. . . . 231B-36. New construction activity, 1929-64 232

185


Production and business activity—Continued PageB-37. New public construction activity, 1929-64 233B-38. New housing starts and applications for financing, 1929-64 234B-39. Business expenditures for new plant and equipment, 1939, and 1945-65. 236B-40. Sales and inventories in manufacturing and trade, 1947-64 237B -41. Manufacturers' shipments and inventories, 1947-64 238B-42. Manufacturers' new and unfilled orders, 1947-64 239

Prices:B-43. Wholesale price indexes by major commodity groups, 1929-64 240B-44. Wholesale price indexes, by stage of processing, 1947-64 242B-45. Consumer price indexes, by major groups, 1929-64 244B--46. Consumer price indexes, by special groups, 1935-64 245

Money supply, credit, and finance:B-47. Money supply, 1947-64 246B-48. Bank loans and investments, 1929-64 247B-49. Bond yields and interest rates, 1929-64 248B-50. Federal Reserve Bank credit and member bank reserves, 1929-64 250B-51. Short- and intermediate term consumer credit outstanding, 1929-64.. 251B-52. Instalment credit extended and repaid, 1946-64 252B-53. Mortgage debt outstanding, by type of property and of financing,

1939-64 253B-54. Net public and private debt, 1929-64 254

Government finance:B-55. U.S. Government debt, by kind of obligation, 1929-64 255B-56. Estimated ownership of U.S. Government obligations, 1939-64 . . . . . 256B-57. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1946-64 , « 257B-58. Federal administrative budget receipts by source and expenditures by

function, fiscal years 1939-66 258B-59. Federal administrative budget receipts and expenditures and the public

debt, 1929-66 260B-60. Government cash receipts from and payments to the public, 1946—66. 261B—61. Government receipts and expenditures in the national income ac-

counts, 1929-64 262B-62. Federal Government receipts and expenditures in the national income

accounts, 1946-66 . 263B-63. Reconciliation of Federal Government receipts and expenditures in

the administrative budget and the consolidated cash statement withreceipts and expenditures in the national income accounts, fiscalyears 1962-66 r 264

B-64. State and local government revenues and expenditures, selected fiscalyears, 1927-63 265

Corporate profits and finance:B-65. Profits before and after taxes, all private corporations, 1929-64 266B-66. Relation of profits before and after taxes to stockholders' equity and

to sales, private manufacturing corporations, by asset size class,1958-64 267

B-67. Relation of profits after taxes to stockholders' equity and to sales,private manufacturing corporations, by industry group, 1958-64. . . 268

B-68. Sources and uses of corporate funds, 1953-64 270B-69. Current assets and liabilities of United States corporations, 1939-64.. 271B-70. State and municipal and corporate securities offered, 1934-64 272B-71. Common stock prices, earnings, and yields and stock market credit,

1939-64 273B-72. Business population and business failures, 1929-64 274

186


Agriculture: PageB-73. Income from agriculture, 1929-64 275B-74. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-64 276B-75. Farm production indexes, 1929-64 278B-76. Selected measures of farm resources and inputs, 1929-64 279B-77. Farm population, employment, and productivity, 1929-64 280B-78. Comparative balance sheet of agriculture, 1929-65 281

International statistics:B-79. United States balance of payment*, 1947-64 282B-80. United States merchandise exports and imports, by economic class,

1929-64 . 284B-81. United States merchandise exports and imports, by area, 1959-64. . 286B -82. Major U.S. Government foreign assistance, by type and by area,

total postwar period and fiscal years 1960-64 287B-83. Gold reserves and dollar holdirgs of foreign countries and inter-

national organizations. 1949, 1953, and 1959-64 288B-84. U.S. gold stock and holdings of convertible foreign currencies by

U.S. monetary authorities, 1949-64 289B-85. Price changes in international trade, 1956-64 290

Note.—Detail in these tables will not necessarily add to totals because ofrounding.

Data for Alaska and Hawaii are not included unless specifically noted.Unless otherwise noted, all dollar figures are in current prices.

187


NATIONAL INCOME OR EXPENDITURETABLE B—1.—Gross national product or expenditure, 1929-64

[Billions of dollars]

Year orquarter

1929 —

1930.1931._19321 9 3 3 . . .1934

1935 ._19361937 _.1 9 3 8 . . .1939

19401941194219431944

19451946104719481949

195019511952 „ .19531 9 5 4 . . .

19551956195719581959

I960 . .196119621963 . . .1964 6

1962: III

1963:

1964:

IV.. _.IIIIIIIVIIIIII....IV 6- -

Totalgrossna-

tionalprod-uct

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.7

502.6518.7556.2583.9622. 3

Per-sonalcon-

sump-tionex-

pendi-tures »

79.071.061.349.346.451.956.362.667.364.667.671.981.989.7

100.5109.121.7147.1165.4178.3181.2

195.0209.8219.8232.238.0256.9269.9285.2293.2313.5

328.2337.3356.8375.0399.2

Gross private domestic invest-ment*

Total

16.210.35.5

1.42.96.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.050.056.349.950.348.963.867.466.156.672.771.868.879.182.087.

New construc-tion

6.24.01.91.41.72.33.34.44.04.8

5.56.63.72.32.73.8

11.015.319.518.824.224.825.527.629.734.935.536.135.540.2

40.741.044.246.48.9

3.6

2.11.6

.5

.61.01.61.92.02.7

3.03.51.7

1.14.87.5

10.19.6

14.112.512.813.8

18.717.717.018.022.321.121.123.625.226.0

5.14.12.41.21.01.11.31.72.52.02.12,53.12.01.41.9

2.76.37.79.39.2

10.112.312.713.814.316.217.819.017.417.919.719.820.621.322.9

II5*

5.84.52.81.61.62.33.14.25.13.64.2

5.56.94.34.05.47.7

10.716.718.917.2

18.921.321.322.320.823.127.228.523.125.927.625.929.031.035.1

1.7- .4

-1.3-2.6-1.6-1.1

.91.02.2

- . 9.4

2.24.51.8

- . 8- 1 . 0- 1 . 1

6.4- . 54.7

- 3 . 16.8

10.23.1.4

- 1 . 65.84.71.6

- 2 . 06.63.51.95.94.43.7

Netex-

portsof

goodsandserv-ices'

0.8.7.2.2.2.4

- . 1- . 1

.11.1.9

1.51.1

- . 2- 2 . 2- 2 . 1-1 .4

4.99.03.53.8

.62.41.3

- . 41.01.12.94.91.2

- . 83.04.64.04.46.7

Government purchases of goodsand services

Total

8.5

9.29.28.18.09.8

10.011.811.712.813.314.124.859.788.696.5

82.930.528.434.540.2

39.060.576.082.875.375.679.086.593.597.299.6

108.0116. 3122.6128.7

Federal

Total

1.31.41.51.52.03.02.94.84.65.35.2

6.216.952.081.289.074.820.615.619.322.2

19.338.852.958.047.545.345.749.752.653.6

53.157.462.964.765.6

1.3

1.41.51.52.03.02.94.84.65.3

1.3 3.92.2

13.849.680.488.6

75.918.811.411.613.614.333.946.449.341.239.140.444.444.846.245.7

53.6 10. 255.2 10. 355. 3 11. 4

()0.2

.61.22.22.71.1.5.2

Stateandlocal

7.2

7.87.76.66.06.87.17.07.27.58.27.97.87.77.47.58.19.9

12.715.217.919.721.723.224.927.730.333.236.840.843.6

46.550.653.557.963.0

Seasonally adjusted annual rates

545.5553. 4559.0566.6571.8577.4587.2599.0608.8618. 6628.4633. 5

350.5354.0358. 5364.0369.2372.0377.4381.3390.0396.1404.6406.2

77.478.980.279.977.980.282.887.185.987.287.390.5

42.544.145.544.944.745.947.248.349.248.948.948.6

22.523.524.424.024.325.125.426.226.926.225 725.0

20.020.621.120.920.420.821.922.122.322.723.123.6

28.128.829.629.729.630.731.432.434.234.635.635.9

6.96.15.15.4

3.63.64.26.4

2.53.72.86.0

3.44.34.43.9

3.44.34.25.8

7.75.77.06.5

114.3116.1115.9118.7121.4120.9122. 8124.8125.2129.6129.5130.3

61.463.662.463.865.164.364.464.964.367.165.565.7

52.555.353.053.554.855.255.555.354.057.055.255.1

9.69.4

10.211.411.39.99.5

10.511.511.011.211.8

0.71.0.8

1.0

1.0.9.6.9

1.2.9.9

1.2

52.852.553.554.856.356.758.459.9

60.962.564.164.6

1 See Table B-9 for major components.2 See Table B-10 for further detail and explanation of components.3 See Table B-7 for exports and imports separately.4 Prior to 1959, this category corresponds closely to the national defense classification in the Budget of the

United States Government for the Fiscal Year ending June 30,1966. Beginning with 1959, they differ becauseof inclusion of space program expenditures in this table; these expenditures, small in 1959-61, amountedto $1.6 billion in 1962, $3.1 billion in 1963 and $4.3 billion in 1964. See Table B-58.

8 Less than $50 million.6 Preliminary estimates.

NOTE.—Data for Alaska and Hawaii included beginning 1960.

Source: Department of Commerce, Office of Business Economics.

7157^981 O—^65


TABLE B-2.—Gross national product or expenditure, in 1964 prices, 7929-64 1

[Billions of dollars, 1964 prices]

Year or quarter

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938.1939.

1940_1941.1942.1943.1944.

1945.1946.1947.1948-1949-

1950..1951..1952..1953..1954..

1955..1956..1957-.1958..1959..

I960..1961..1962..1963-.1964 8

1962: I...II..III.I V -

1963: I...II..III-IV.-

1964: I_._II..Ill-IV s.

Total

nationalproduct

217.8

198.1183.7156.8153.0167.6

183.3208.7219.5210.2227.3

246.3287.1330.9374.1401.7

392.9337.9336.8350.4351.8

380.4412.2429.0448.9439.8

473.4483.5493.0486.0518.1

531.2541.6575.7595.3622.3

Personal consumptionexpenditures

Total

147.3

138.7134.4122.4119.5125.6

133.3146.6151.8149.3157.6

165.9176.8173.4178.1184.6

197.3220.6224.2228.5234.3

248.3250.7257.3269.5273.1

293.3303.2311.3314.2331.9

342.7349.5366.4380.2399.2

Dura-ble

15.6

12.510.88.27.99.1

11.213.814.511.814.0

16.118.611.49.99.0

10.320.424.525.927.7

33.830.730.034.834.1

41.740.040.637.443.2

44.543.648.151.957.0

Non-lurabligoods

durable Services

72.8

69.369.063.561.665.7

69.477.379.981.385.6

89.595.597.5

100.5104.9

113.2120.1117.5117.2118.6

121.9124.1128.3132.0133.2

140.0145.4148.0148.7154.8

157.8160.1165.5169.2177.1

56.954.750.850.050.9

52.755.557.456.358.0

60.262.764.567.770.6

73.880.182.285.488.0

92.795.999.1

102.7105.9

111.7117.8122.8128.1133.9

140.5145.8152.8159.1165.1

Gross private domestic investment

Total

43.4

29.818.65.55.9

10.2

19.226.232.419.326.7

35.344.422.813.615.4

21.151.751.860.648.4

68.270.662.263.0

76.676.271.760.775.8

74.371.080.883.387.7

New construction

Total

26.5

19.713.87.75.86.5

8.511.914.312.815.3

17.119.29.95.66.2

8.521.925.128.628.1

34.432.832.734.837.4

42.640.840.139.143.2

43.343.246.147.648.9

Resi-dential

non-farm

10.6

6.25.22.61.92.3

3.85.66.06.28.3

8.99.64.42.11.8

2.28.9

11.713.913.7

18.915.715.616.618.8

22.219.818.719.823.8

22.222.324.625.826.0

Other

15.9

13.58.65.13.94.2

4.76.38.26.67.0

8.29.65.53.54.4

6.213.013.414.614.4

15.517.217.118.218.7

20.521.021.419.319.4

21.021.021.521.722.9

Produc-ers'

durableequip-ment


13.6

10.87.24.34.56.1

8.211.212.78.8

10.3

13.315.79.08.4

11.2

15.519.626.427.724.1

25.926.826.627.425.3

27.530.430.023.726.0

27.626.029.331.235.1

Changein busi-

nessinven-tories

567.0574.1578.0583.4

586.9589.8598.0606.2

612.9620.2626.6629.4

361.4364.2367.8372.1

376.0377.9382.3384.6

391.8396.4404.1404.6

47.247.348.050.0

51.151.251.953.4

55.956.858.556.6

163.6165.0166.4166.9

168.2168.6170.2169.7

173.2175.7179.5180.1

150.6151.9153.4155.2

156.7158.1160.2161.4

162.7164.0166.0167.9

79.580.781.581.5

79.681.783.887.9

86.587.486.989.8

44.746.047.146.5

46.247.148.048.9

49.749.248.548.0

23.824.525.224.8

25.125.825.926.6

27.226.425.524.7

20.921.521.921.7

21.021.322.222.4

22.522.823.023.3

28.328.929.830.1

29,930.931.632.7

34.334.535.635.8

3.4

- 2 . 5- 6 . 5-4 .4- 2 . 4

2.53.15.4

- 2 . 31.1

4.99.53.8

- . 3- 1 . 9

- 2 . 910.2

.24.3

- 3 . 8

7.911.02.9.8

- 2 . 2

6.65.01.6

- 2 . 16.5

3.41.85.54.43.7

6.55.74.75.0

3.53.64.26.4

2.53.72.86.0

See footnotes at end of table.

I9O


TABLE B-2.—Gross national product or expenditure, in 1964 prices, 1929-64*—Continued


Year or quarter

Netexportsof goods

andservices

Government purchases of goods and services

Total

Federal

Total 2 Nationaldefense 2 3 Other

State andlocal

1929...

1930...1931...1932...1933...1934...

1935...1936...1937...1938...1939...

1940...1941...1942...1943...1944...

1945...1946...1947....1948...1949...

1950...1951...1952...1953...1954...

1955...1956...1957...1958...1959...

I960...1961...1962...1963...1964s_.

1962: I.-_.

III. .IV..

1963: I.__I I . -III-IV..

1964: I . . .II_-I I I .IV 8

1.0

.4

.2- . 3- . 1

- 1 . 3- 1 . 5- . 91.51.0

1.8.2

- 2 . 3-5 .9-6 .0

- 4 . 74.99.33.03.7

1.33.52.5.3

2.2

2.44.25.51.4

- . 5

3.54.44.24.46.7

26.0

28.730.328.727.931.8

32.237.436.240.142.0

43.365.7

137.1188.3207.8

179.260.651.558.365.4

87.4107.0116.0103.8

101.1100.0104.4109.7110.9

110.7116.7124.2127.5128.7

4.0

4.65.05.37.29.4

9.114.013.115.615.0

17.941.8

115.2168.5188.3

159.338.426.331.134.4

29.453.472.580.064.7

59.256.758.860.559.7

57.661.067.267.565.6

(4)

8(4)

()3.6

6.434.0

109.3165.4185.0

157.130.017.217.920.7

21.546.263.367.655.6

50.649.652.151.050.9

48.951.556.456.854.2

()11.4

11.57.85.93.13.3

2.28.49.1

13.313.7

7.97.29.2

12.49.1

7.16.89.58.8

8.79.5

10.910.811.4


3.24.84.84.1

3.34.24.25.8

7.75.77.06.5

122.9124.4123.8125.6

128.0126.1127.8127.9

126.9130.6128.7128.4

65.968.266.967.9

68.967.267.466.6

65.067.865.064.7

55.558.256.055.7

57.056.857.555.8

53.456.753.953.1

10.310.010.912.2

12.010.310.010.8

11.711.111. 111.6

22.0

24.125.323.520.722.4

23.023.523.124.527.0

25.423.921.819.819.5

19.922.225.227.231.0

33.234.034.636.139.2

41.943.345.649.251.2

53.155.757.060.063.0

57.156.256.857.8

59.058.960.361.4

61.962.963.763.7

1 These estimates represent an approximate conversion of the Department of Commerce series in 1954prices. (See Tables B-3 and B-6.) This was done by major components, using the implicit price indexesconverted to a 1964 base. Although it would have been preferable to redeflate the series by minor compo-nents, this would not substantially change the results except possibly for the period of World War II, andfor the series on change in business inventories.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, A Supplement to the Survey of Current Business, 1958.

2 Net of Government sales. See Table B-l for Government sales in current prices.3 See footnote 4, Table B-l .4 Not available separately.5 Preliminary estimates.



191


TABLE B-3.—Gross national product or expenditure^ in 1954 prices, 1929-64 l


Year or quarterTotalgross

nationalproduct


Total

128.1

120.3116.6106.0103.5108.9

115.8127.7132.1129.9137.3

144.6154.3150.8154.6160.2

171.4192.3195.6199.3204.3

216.8218.5224.2235.1238.0

256.0264.3271.2273.2288.9

298.1303.8318.5330.6347.5

Dur-able

goods

14.9

11.810.3

7.87.58.6

10.713.113.811.213.3

15.317.610.9

9.48.6

9.819.423.324.626.3

32.129.228.533.132.4

39.638.038.535.541.0

42.241.445.749.354.1

Non-durablegoods

65.3

62.161.856.955.258.8

62.169.271.672.876.7

80.285.687.390.094.0

101.4107.6105.3105.1106.3

109.2111.2115.0118.3119.3

125.4130.3132.6133.3138.7

141.4143.5148.3151.6158.7

Serv-ices

Gross private domestic investment

TotalTotal

New construction

Pesi-dentialnon-farm

Other

Pro-ducers'durableequip-ment

Changein busi-

nessinven-tories

1929. .

1930. .1931. .1932. .1933. .1934. .

1935. .1936. .1937. .1938. .1939. .

1940. .1941. .1942. .1943. .1944..

1945..1946..1947-.1948..1949..

1950..1951..1952..1953..1954..

1955..1956..1957..1958..1959..

I960..1961..1962..1963..1964*.

1962: I . . . .II...III.IV.

1963: I—.II...III..IV..

1964: III—III.

181.8

164.5153.0130.1126.6138.5

152.9173.3183.5175.1189.3

205.8238.1266.9296.7317.9

314.0282.5282.3293.1292.7

318.1341.8353.5

363.1

392.7400.9408.6401.3428.6

439.9447.9476.4492.6515.7

48.0

46.444.641.440.841.5

42.945.346.845.947.2

49.151.152.655.257.6

60.265.367.069.671.7

75.578.280.883.786.3

91.096.0

100.1104.4109.2

114.5118.9124.5129.7134.6

35.0

23.615.03.94.07.4

16.121.027.015.521.6

29.036.718.810.712.3

17.042.441.549.838.5

55.957.750.450.648.9

62.561.758.149.061.7

60.257.465.967.771.0

20.9

15.410.96.04.65.1

6.79.4

11.310.112.2

13.615.37.84.44.8

17.319.922.722.3

27.426.026.027.629.7

33.932.331.831.134.4

34.434.336.737.938.9

8.7

5.14.22.11.61.9

3.14.65.05.16.8

7.37.93.61.71.4

1.87.39.6

11.411.2

15.512.912.813.615.4

18.216.215.316.219.5

18.218.220.121.221.3

12.2

10.46.63.93.03.2

3.64.96.35.05.4

6.37.44.22.73.4

4.810.010.311.211.1

11.913.213.214.014.3

15.716.116.514.814.9

16.216.116.516.717.6


11.1

8.85.93.53.75.0

6.79.2

10.57.38.5

10.912.97.46.99.2

12.716.121.722.819.8

21.322.021.822.520.8

22.525.024.619.421.4

22.721.424.025.628.8

469.1475.1478.3483.0

485.4487.9494.8502.0

508.0513.5519.6521.5

314.2316.6319.8323.6

327.0328.6332.4334.4

340.9345.0351.8352.1

44.844.945.647.6

48.548.649.450.8

53.154.055.653.8

146.6147.8149.1149.5

150.7151.1152.5152.1

155.2157.4160.9161.4

122.7123.8125.0126.5

127.8128.9130.6131.6

132.6133.7135.3136.9

64.865.866.366.5

64.766.268.171.7

70.170.870.472.8

35.536.637.537.0

36.837.538.239.0

39.639.238.638.2

19.520.120.620.3

20.621.221.221.8

22.321.620.920.3

16.116.516.916.7

16.216.417.017.2

17.317.517.717.9

23.223.824.424.7

24.625.425.926.8

28.123.329.229.4

3.0

- . 7- 1 . 8- 5 . 6- 4 . 2-2 .8

2.62.45.2

- 1 . 81.0

4.58.63.6

- . 6-1 .7

-2 .49.0

- . 14.4

- 3 . 6

7.29.72.6.5

- 1 . 6

6.14.51.6

-1 .55.9

3.11.75.24.13.4

6.15.44.44.9

3.43.34.05.9

2.43.32.55.2


192


T A B L E B-3.—Gross national product or expenditure, in 1954 prices, 1929-641—Continued


Year or quarter

Net exports of goods andservices

Netexports Exports Imports

Government purchases ofgoods and services

Total Federal* Stateand local

Grossprivate

product»

1929.

1930.1931-1932.1933.1934.

1935..1936.1937.1938.1939.

1940.1941.1942.1943.1944.

1945.1946.1947.1948-1949.,

1950..1951..1952.1953.1954.,

1955..1956.,1957.1958.1959.,

1960...1961...1962...1963...1964*..

1962: I....II...III.IV..

1963: I....II—III..IV..

1964:*III....III...IV 4..

0.2

.2-.3-.3

-1.9-2.2-1.6

.8

.3

1.1-.6-2.9-6.6-6.7

-5.63.88.02.02.6

.22.21.2-.91.0

2.53.8-.2

-2.1

1.72.52.22.24.3

11.1

9.98.4

6.9

7.37.79.39.39.5

10.510.67.66.77.4

9.815.819.214.715.1

14.517.316.916.417.5

19.222.424.421.421.9

24.925.827.529.133.0

10.9

9.78.77.17.77.5

9.29.810.98.59.2

9.411.310.513.214.1

15.312.011.112.812.4

14.215.115.717.316.5

18.319.820.621.624.1

23.223.325.326.828.7

18.5

20.521.620.519.922.8

23.026.926.028.830.1

31.147.7

100.1137.9152.2

131.243.937.242.147.2

45.163.377.784.375.3

73.272.375.579.380.1

79.984.389.892.192.9

2.9

3.43.73.95.36.9

6.710.39.6

11.411.0

13.130.784.7

123.9138.4

117.128.219.422.925.3

21.639.353.358.847.5

43.541.743.244.543.9

42.344.849.449.748.2

15.6

17.117.916.614.615.8

16.316.616.417.419.1

18.016.915.414.013.8

14.015.817.819.221.9

23.524.124.525.527.7

29.730.632.234.836.2

37.639.440.342.444.6


1.32.82.82.1

1.32.12.03.5

5.43.44.54.0

26.128.028.227.9

27.128.929.430.9

32.731.933.833.8

24.825.225.425.7

25.826.827.427.4

27.328.529.229.7

88.889.989.490.7

92.491.092.392.4

91.694.392.892.7

48.450.249.249.9

50.749.449.648.9

47.849.847.847.6

40.439.840.240.9

41.841.742.743.4

43.844.545.045.1

171.5

153.7142.0119.4115.0125.1

138.7156.6167.8158.0172.1

188.1216.0234.8246.4259.8

257.0252.7259.6270.3268.7

293.3311.1320.4336.2330.8

360.4368.2375.4367.9394.8

405.2412.5439.1454.5476.6

432.1437.8440 9445.6

447.8450.0456.5463.6

469.4474.7480.4482.1

1 For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, A Supplement to the Survey of Current Business, 1958. See Table B-6 for implicit price deflators.

2 Net of Government sales.3 Gross national product less compensation of general government employees; i.e., gross product accruing

from domestic business, households, and institutions, and from the rest of the world.* Preliminary estimates.



193


TABLE B-4.—Gross national product by major type of product, 1947-64


Year or quarter

1962:1...II. .III.IV.

1963: I . . .I I -III.IV.

1964: II I—I I I -IV1.

Totalgrossna-

tionalprod-uct

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.7

502.6518.7556.2583.9622.3

Final Inven-tory

change

234.8254.7261.1

277.8318.7343.9364.9364.8

391.7414.5441.2446.5476.1

499.1516.8550.3579.5618.6

- 0 . 5 143.8 144.34.7

-3.1

10.3.1

Goods output

Total

157.0 152.3149.3 152.4

6.8 163.6 156.82 191.8 181.6

198.2 195.24 206.9 206.4

- 1 . 6 197.4 199.0

5.8 217.2 211.44.7 227.6 223.01.6 238. 2 236.6

- 2 . 0 229.4 231.46.6 250.6 244.0

3.5 257.11.9 259.»9.8 257.95.9 279. 5 273. 64.4 290. 2 285.83.7 308.9 305.2

253.7

- 0 . 54.7

- 3 . 1

6.810.23.1.4

- 1 . 6

5.84.71

-2.06.6

Durablegoods

47.449.847.9

60.774.475.679.871.6

84.389.694.580.495.0

96.53.51.95. 9 105. 34. 4 110. 43.7

46.048.949.9

56.767.574.578.974.1

81.386.793.483.391.5

94.294.4 94.5

102.3108.2

119.8 117.9

Is

1.4.9

-2.19 107.

4.06.1.

Nondurablegoods

96.4'. 2 103.4

101.5 102.4

102.9 100.16.9 117.4

2 122.6 120.79 127.0 127.5

- 2 . 5 125.9 125.0

3.0 132.9 130.22. 8 138.11.0

-2.83.

143.7

5 155.

2.3 160.6 159.5165.4- . 1

3.2.2.0 189.1

0 174.1.2 171.32 179.8 177. 6

187.4

98.2

114.1

136.2143.2

149.0 148.1.. 6 152.5

163.4

2.71.8

1.1

71.878.1

-1.83.8

-1.0

2.83.31.9 112.3

- . 5 119.5. 9 124.1

102.9

133.4143.3

4.5. 9 164.2

3.1 175.8

188.82.0 200.82.9 214.72. 2 228.41.8 244.4


545.5553.4559.0566.6

571.8577.4587.2599.0

618.6628.4633.5

538.7547.3554.0561.2

568.2573. 7583.0592.6

606.4614.9625.7627.5

6.9 275. 8 268.96.15.15.4

279. 6 273.5279.0 273.9283. 6 278. 2

3. 6 284. 4 280.93. 6 290.14. 2 289. 8 285. 76.4 296.7 290.3

2. 5 300. 7 298. 27 308.0 304.38 313.3 310. 5

6.0 314.0 308.0

286.5

6.9 104. 2 100.2106. 6 103. 5

3.72.

104.5 101.4105.8 104.1

6.15.15.4

3. 6 106.6 105.03.6 113.7 111.0

106.64. 2 108.16. 4 113. 4

2.5 114.9 114.3121.4

. 8 122.0 120. 76.0 120.9 117.5

110.4

119.0

3. 9 171. 6 168.7173.0

8 177,

.72.51.33.4

170.0174.6 172. 6

'. 7 174.1

1. 5 177.9 175. 82.7 176.4 175. 51.53.0 183. 3 179.9

185.7

191.3193.1

183.9186. 6 185. 4

189.8190.5

2.9 210.03.0 212. 22.0 216. 83. 6 220.0

2.0 224. 7.9 223.5

2. 7 231. 23. 4 234. 5

1.8 239. 61.1.

2 2415 246.

2. 5 250.6

18.724.325.2

31.234.236.439.041.6

46.948.260.150.956.3

56.758.162.065.2

59.861.663.263.0

62.763.766.267.8

68.668.969.268.7

1 Preliminary estimates.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

194


TABLE B-5.—Gross national product by major type of product, in 1954 prices, 7947-64 '


Year orquarter

Totalgrossna-

tionalprod-uct

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1962: III—III..IV...

1963: III—III—IV...

1964: III.—III—IV 2..

282.3293.1292.7

318.1341.8353.5369.0363.1

392.7400.9408.6401.3428.6

439.9447.9476.4492.6515.7

Finalsales

Inven-tory

change

282.4288.7296.3

310.9332.1350.9368.5364.8

386.6396.4406.9402.8422.7

436.8446.2471.2488.5512.3

Total Finalgoods

-0.14.4

-3.6

7.29.72.6.5

-1.6

6.14.51.6

-1.55.9

3.11.75.24.13.4

Goods output

Total

163.3167.7162.3

177.6191.7196.8207.7197.4

216.9221.4223.4211.5228.8

233.0233.6250.3258.1

Inven-tory

change

163.4163.4165.9

170.4182.0194.2207.2199.0

210.8217.0221.7213.1222.9

229.9232.0245.1254.0269.3

-0.14.4

-3.6

7^29.72.6.5

-1 .6

6 14.51.6

-1 .55.9

3.11.75.24.13.4

Durable goods

Total

55.855.451.9

65.374.675.180.871.6

83.184.985.571.782.9

84.282.191.796.3

104.3

Final

54.354.654.3

61.067.473.979.874.1

80.182.384.574.180.0

82.282.189.294.4

102.6

Inven-tory

changeTotal

1.5.8

- 2 . 4

4.37.11.21.0

- 2 . 5

3.02.71.0

-2 .43.0

2.1- . 12.61.91.6

Nondurable goods

107.5112.3110.5

112.3117.1121.8126.9125.9

133.8136.5137.9139.8145.9

148.8151.6158.6161.8168.4

Final Inventory

change

109.2108.8111.6

109.4114.5120.3127.4125.0

130.7134.7137.2139.0143.0

147.7149.8155.9159.6166.7

-1 .63.5

-1 .2

2.92.61.5

- . 5.9

3.11.8.7.8

2.9

1.11.72.62.31.7

Serv-ices

94.797.2

100.7

105.0114.2119.8122.5124.1

130.2135.5141.2145.2151.4

158.8165.4174.8181.4188.5

Con-struc-tion


469.1475.1478.3483.0

485.4487.9494.8502.0

508.0513.5519.6521.5

463.0469.7473.9478.1

482.1484.6490.9496.1

505.6510.2517.0516.3

6.15.44.44.9

3.43.34.05.9

2.43.32.55.2

247.3250.5249.8253. 5

253.9257.7257.8263.2

266.2271.8276.3276.5

241.2245.1245.4248.6

2.50.5254.4253.8257.3

263.8268.5273.7271.3

6.15.44.44.9

3.43.34.05.9

2.43.32.55.2

90.792.691.092.6

93.398.794.399.0

100.4105.4106.0105.2

87.389.988.391.1

92.096.493.096.4

99.8103.3104.9102.5

3.42.72.71.6

1.32.31.22.6

.62.11.12.7

156.6157.9158. 8160.9

160.6159.0163.6164.2

165.8166.4170.3171.3

153.9155.2157.1157.6

158.5158.0160.8160.9

164.0165.2168.8168.8

2.72.81.73.3

2.01.02.73.3

1.81.21.52.5

171.7173.2176.4177.7

179.9178.1183.5184.2

186.8186.7188.9191.4

24.328.229.7

35.436.036.938.841.6

45.643.944.044.548.3

48.148.951.353.054.5

50.151.352.151.8

51.652.153.554.6

55.055.054.453.7

1 For explanation of conversion of estimates in current prices to those in 1954 prices, see 17.S. Income andOutput, A Supplement to the Survey of Current Business, 1958.8 Preliminary estimates.

NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

195


TABLE B-6.—Implicit price deflators for gross national product, 1929-64

[Index numbers, 1954=100]

Year or quarter

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

196019611962 - - .196319642

1962: III -- -HIIV

1963: IIIHIIV

1964: IIIIIIIV 2. . .

Grossnational

prod-uct i

57.4

55.449.944.944.246.9

47.447.749.548.748.1

48.952.959.664.966.5

68.074.683.088.588.2

89.596.298.199.0

100.0

101.2104.6108.4110.8112.6

114.2115.8116.7118.5120.7

116.3116.5116.9117.3

117.8118.3118.7119.3

119.8120.5121.0121.4


Total

61.6

59.052.646.544.847.6

48.649.150.949.849.2

49.753.159.565.068.6

71.076.584.689.588.7

89.996.098.099.0

100.0

100.4102.1105.1107.3108.5

110.1111.1112.0113.4114.9

111.6111.8112.1112.5

112.9113.2113.5114.0

114.4114.8115.0115.4

Dur-able

goods

62.0

60.553.547.046.148.8

47.947.950.350.850.2

50.754.864.270.378.7

82.882.088.492.493.5

94.6101.1102.299.4

100.0

100.1101.3104.7104.9106.3

106.3105.5105.9105.6105.2

105.7106.2106.2105.5

105.2105.9105.8105.6

105.4105.7105.5104.3

Non-durablegoods

57.7

54.846.940.040.345.3

47.247.449.146.745.8

46.450.558.865.869.5

72.278.888.794.090.9

91.499.0

100.199.7

100.0

99.5100.9103.9106.3106.0

107.4108.3109.2110.5111.6

108.8108.9109.2109.9

110.2110.2110.6111.1

111.4111.4111.6112.0

Services

66.8

64.260.355.350.750.7

50.951.953.854.554.5

54.856.859.862.865.5

67.171.176.881.783.6

85.989.893.697.7

100.0

101.7104.1107.0109.4

. 112.5

114.8116.3117.5119.8122.7

117.0117.3117.7118.2

119.0119.4119.9120.7

121.5122.5123.0123.7

Gross private domesticinvestment *

New construction

Total

41.7

40.036.531.131.233.3

34.134.839.039.139.0

40.143.447.653.056.3

57.863.776.685.984.3

88.395.398.4

100.1100.0

103.1109.8113.5114.2116.8

118.4119.4120.6122.9125.7

119.5120.3121.5121.3

121.6122.3123.6123.9

124.3124.9126.6127.2

Resi-dentialnon-farm

41.8

40.837.130.129.833.1

32.634.337.839.239.5

40.944.647.751.456.2

60.065.378.488.685.9

90.997.5

100.3101.3100.0

103.0109.0111.2111.2114.3

115.5115.9117.2119.1122.0

115.5116.9118.2118.0

117.9118.5119.7120.2

120.7121.4122.9123.3

Other

41.6

39.736.231.731.933.4

35.435.239.939.138.4

39.142.247.654.056.3

56.962.674.883.182.6

85.193.196.598.9

100.0

103.2110.7115.7117.6120.1

121.6123.3124.8127.6130.2

124.2124.3125.4125.4

126.3127.1128.4128.7

128.8129.1130.9131.7

Pro-ducers'durableequip-ment

52.5

50.547.945.543.145.9

45 645.448.750.249.4

50.654.058.558.459.3

60 066.776.883 187.0

89.096.897.599.0

100.0

102.6109.0115.7118.9121.4

121.6121.3120.9120.9121.9

120.9121.3121.3120.4

120.6121.0121.0121.0

121.7122.0121.9121.9


196


TABLE B-6.—Implicit price deflators for gross national product, 1929-64—Continued

[Index numbers, 1954=100]

Year or quarter

1929

19301931 .1932 _1933 . _1934

19351936193719381939

19401941194219431944

19451946 __. .19471948. .1949-

1950.1951195219531954

1955 _.19561957 _19581959. .

1960196119621963 _.1964 2

1962: I - .IIIII . .IV

1963: I _ -.IIIII . .IV

1964: III .III . _.IV 2

Exports and imports ofgoods and services 1

Exports

63.1

55.043.236.235.243.0

44.746.048.946.546.9

51.256.164.968.173.3

75.380.893.498.692.7

90.3103.3103.0101.0100.0

100.7103.4107.4105.9104.3

105.5107.2105 9105.7105.6

107.3105.6105.2105.6

106.0105.7105.4105.6

105.6105.6105.6105.6

Imports

57.3

48.939.732.329.333.8

36.036.941.138.038.6

40.943.048.951.353.3

57.465.579.786.382.0

87.8102.8102.898.2

100.0

99.9101.8103.299.298.2

100.599.099.598.198.2

99.2100.299.699.0

98.498.097.998.1

98.298.298.298.2

Government purchasesand services

Total

45.8

44.942.739.440.342.9

43.444.045.144.544.2

45.251.959.664.363.4

63.269.476.482.085.1

86.595.597.898.3

100.0

103.3109.2114.6117.9121.4

124.7128.1129.6133.1138.5

128.7129.1129.7130.8

131.3132.8133.1135.2

136.8137.4139.5140.6

Federal

44.5

41.841.738.238.343.2

43.746.947.346.146.8

47.055.161.465.664.3

63.973.080.884.488.0

89.698.799.298.6

100.0

104.1109.7114.9118.3122.2

125.5128.0127.2130.2136.0

126.9126.9126.9128.0

128.6130.2129.9132.6

134.5134.7137.0138.0

of goods

State andlocal

46.1

45.543.039.741.142.8

43.342.243.843.442.7

43.946.249.852.754.6

57.463.071.579.381.7

83.790.294.897.5

100.0

102.2108.6114.2117.3120.3

123.8128.3132.5136.4141.3

130.9132.0133.1134.2

134.7135.9136.8138.1

139.2140.5142.2143.3

1 Separate deflators are not available for total gross private domestic investment, change in businessinventories, and net exports of goods and services.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U.S. Income andOutput, a Supplement to the Survey of Current Business, 1958.

2 Preliminary estimates.



197


TABLE B-7.—Gross national product: Receipts and expenditures by major economic groups,7929-64

[Billions of dollars)

Year or quarterDis-pos-ableper-

sonalIncome

Persons

Per-sonalcon-

sump-tlonex-

pend-itures

Per-sonal

savingor dis-saving

Business

Grossre-

tainedearn-ings i

Grossprivate

do-mesticinvest-ment

Excessof re-ceiptsor in-vest-ment

)

For-eignnet

trans-fers by

gov-ern-

ment

International

Netexports

Net exports of goodsand services

Ex-ports

Im-ports

Excessof

trans-fers ornet ex-ports()

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938-1939.

1940.1941.1942.1943.1944.

1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.19643

1962: I...II..III.IV..

1963: I...II..III.IV..

1964: I...II-.III _IV a

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9308.8317.9337.1

349.9364.7384.6402.5431.8

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293.2313.5

328.2337.3356.8375.0399.2

4.2

3.42.5

- . 6- . 6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.6

21.727.327.827.532.6

11.5

8.85.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.045.644.851.3

50.751.257.559.1

«65.0

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156,672.7

71.868.879.182.087.7

- 4 . 7

-1 .5- . 31.81.22.0

.1- 1 . 9- 4 . 0

1.2- 1 . 0

- 2 . 8- 6 . 6

4.310.710.1

5.2-15.1-12.6-16.5-5 .4

-22.3-24.8-16.6-16.0-13.4

-21.8-24.3-20.5-11.9-21.4

-21.1-17.6-21.7-22.9-22.6

0.3.1

1.63.2

2.82.1.5.6.4

555

. 8

0.8

.7

.2

.2

.2

.4

1.51.1

- . 2- 2 . 2-2 .1

-1 .44.99.03.53.8

.62.41.3

- . 41.0

1.12.94.91.2

- . 8

3.04.64.04.46.7

7.0

5.43.62.52.43.0

3.33.54.64.34.4

5.46.04.94.55.4

7.412.817.914.514.0

13.117.917.416.617.5

19.423.126.222.722.9

26.327.629.230.734.9

6.3

4.83.42.32.32.5

3.33.64.53.23.5

3.84.85.16.87.5

8.87.98.9

11.010.2

12.515.516.117.016.5

18.320.221.321.523.6

23.323.025.226.328.2


378.5383.4386.0390.4

395.1399.1404.4411.2

419.5430.2435.6442.0

350.5354.0358.5364.0

369.2372.0377.4381.3

390.0396.1404.6406.2

28.029.427.526.4

25.927.127.029.9

29.534.031.035.9

56.257.157.758.9

58.458.460.259.7

64.165.265.9(6)

77.478.980.279.9

77.980.282.887.1

85.987.287.390.5

-21.2-21.9-22.5-21.1

-19.4-21.8-22.6-27.4

-21.8-22.0-21.4

(«)

1.81.51.51.6

1.51.61.61.7

1.51.61.72.2

3.44.34.43.9

3.44.34.25.8

7.75.77.06.5

28.029.629.729.4

28.830.531.032.6

34.533.735.735.7

24.625.325.325.5

25.426.326.826.9

26.827.928.729.2

- 0 . 8

- . 7- . 2- . 2- . 2—.4

.1

.1- . 1

- L I- . 9

-1 .5-1 .1

2.22.1

1.4- 4 . 6- 8 . 9- 1 . 9- . 5

2.2—.2

.22.0

.4

.4-1 .5-3 .5

.12.3

-1 .4-3 .0-2 .4- 2 . 8-5 .0

-1.6-2.8-2.9-2.3

-1.9-2.6-2.6-4.1

- 6 . 2- 4 . 1- 5 . 2- 4 . 3



TABLE B-7.—Gross national product: Receipts and expenditures by major economic groups,7929-64—Continued


Year or quarter

1929..

1930..1931..1932..1933..1934..

1935..1936..1937..1938..1939..

1940..1941..1942..1943..1944..

1945..1946..1947..1948..1949..1950..1951..1952..1953..1954..

1955..1956..1957..1958..1959..

I960..1961..1962..1963..1964 3.

1962: I . .I I . . .III . .I V . .

1963: I . . .I I . . .III. .IV . .

1964: I . . . .II . .III. .IV s

Government

Receipts

Netre-

ceipts

9.5

8.96.46.46.77.4

8.08.9

12.311.211.2

13.321.028.344.444.6

43.134.641.642.837.0

47.266.672.275.768.5

78.484.287.582.095.7

103.5103.8114.4123.4

* 125. 7

Taxandnon-tax re-ceiptsor ac-cruals

Trans-fers,inter-est,andsub-

sidies '

11.3

10.89.58.99.3

10.511.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159 256^4

69.385.590.694.990.0

101.4109.5116.3115.1130.2

140.6145.6157.8168.9173. 3

1.7

1.83.12.52.63.1

3.44.13.13.84.2

4.44.04.34.86.5

10.116.515.416.519.4

22.118.918.419.221.523.025.328.733.134.4

37.141.843.445.447.5

Expenditures

Pur-chases

ofgoodsandserv-ices

Totalex-

pendi-tures

8.5

9.29.28.18.09.8

10.011.811.712.813.3

14.124.859.788.696.582.930.528.434.540.2

39.060.576.082.875.3

75.679.086.593.597.2

99.6108.0116.3122.6128.7

Trans- (fers,

inter-estandsub-

sidies 2

10.2

11.012.310.610.712.8

13.315.914.816.617.5

18.528.864.093.4

103.192.947.043.851.059.5

61.179.494.4

102.096.7

98.6104.3115.3126.6131.6

136.7149.8159.8168.0176.2

Sur-plus ordeficit—) on

incomeand

prod-uctac-

count

1.7

1.83.12.52.63.1

3.44.13.13.84.2

4.44.04.34.86.5

10.116.515.416.519.4

22.118.918.419.221.523.025.328.733.134.4

37.141.843.445.447.5

1.0

- . 3- 2 . 8- 1 . 7- 1 . 4- 2 . 4

- 2 . 0- 3 . 0

.6- 1 . 6- 2 . 1

- . 7- 3 . 8-31.4-44.2-51.9

-39.74.1

13.38.2

- 3 . 18.26.1

- 3 . 9- 7 . 1- 6 . 7

2.95.21.0

-11.4- 1 . 5

3.9- 4 . 2- 1 . 9

.9- 2 . 9

Totalincomeor re-ceipts

104.2

92.175.457.755.064.2

72.781.691.084.8

125.4160.0194.2208.6209.1208.6230.7260.3257.5

285.3327.7345.6364.1362.3

396.5421.6443.4446.0485.7505.6521.2558.0586.7

•624.4

Statisticaldis-

crep-ancy

Grossna-

tionalprod-uct

or ex-pendi-

ture

0.3-1 .0

.8

.8

.9

.7- . 21.1

- . 2.5

1.2

.4- . 8

-1 .72.84.52.13.5

- . 8.5

- . 71.21.41.3.9

1.0-2 .4- . 6

-1 .5- 3 . 0- 3 . 0-2 .6-1 .8-2 .7

«-2.1


111.1114.4115.5116.4

118.6122.5124.5128.1

125.2124.1126.6

154.3157.1158.9161.1

164.3167.5169.7174.0

172.7171.1173.9(«)

43.142.843.444.7

45.745.045.245.9

47.547.047.348.2

114.3116.1115.9118.7

121.4120.9122.8124.8

125.2129.6129.5130.3

157.4158.9159.3163.4

167.1165.9168.0170.7

172.7176.6176.9178.5

43.142.843.444.7

45.745.045.245.9

47.547.047.348.2

- 3 . 1- 1 . 8

- . 4- 2 . 2

- 2 . 81.61.73.3

(8)- 5 . 5- 3 . 0

(8)

547.7556.3560.7567.4

573.7581.7590.7600.8

610.4621.0629.8

(fl)

- 2 . 2- 2 . 9- 1 . 7

- . 8

- 1 . 9- 4 . 3- 3 . 5- 1 . 8

- 1 . 6- 2 . 4- 1 . 4

(6)

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.7

502.6518.7556.2583.9622.3

545.5553.4559.0666.6

571.8577.4587.2599.0

608.8618.6628.4633.5

1 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allow-ances, and excess of wage accruals over disbursements,2 Government transfer payments to persons, foreign net transfers by Government, net interest paid bygovernment, and subsidies less current surplus of Government enterprises.

3 Preliminary estimates.* Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.4 Less than $50 million.o Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

199


TABLE B-8.—Gross private and government product, in current and 1964 prices, 7929-64


Year or quarter

1929-

1930..1931..1932_.1933..1934-1935-1936..1937..1938..1939-

1940-1941-1942-1943-1944-1945—1946-1947-1948-1949-1950-

1951-1952-1953..1954-1955-1956-1957-1958..1959-

1960-1961-1962-.1963..1964 «

1962: I . . .

III.I V -

1963: I . . .I I . .III.I V -

1964:1.. .II- .III.IV 5

Current prices

Total

na-tionalprod-uct

104.491.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1284.6

329.0347.0365.4363.1397.5419.2442.8444.5482.7502.6518.7556.2583.9622.3

Gross private product»

Total

100.186.671.654.051.359.466.675.583.977.683.592.8

116.4144.0167.0179.2178.4

217.6242.0238.7263.8301.7316.0333.6330.8363.5382.8403.8402.6438.6455.3467.9501.7525.7559.0

Farm*

9.87.76.24.44.64.36.96.38.16.76.56.89.4

13.415.315.716.219.320.723.819 320.523.622.820.920.319.619.319.421.320.020.921.221.521.721.1

Non-farm

90.378.865.449.646.755.159.669.275.870.977.086.0

107.0130.6151.7163.5162.2170.7196.9218.2219.4243.2278.2293.2312.7310.5343.9363.5384.5381.2418.6434.4446.7480.2504.0537.9

Grossgov-ern-mentprod-uct '

4.3

4.54.74.44.75.65.97.36.97.67.67.89.4

15.125.632.235.220.716.717.419.420.827.331.031.832.334.036.438.942.044.147.350.754.558.263.3

1964 prices <

Totalgrossna-

tionalprod-uct

217.8198.1183.7156.8153.0167.6183.3208.7219.5210.2227.3

246.3287.1330.9374.1401. 7392.9337.9336.8350.4351.8380.4412.2429.0448.9439.8473.4483.5493.0486.0518.1531.2541.6575.7595.3622.3

Gross private productl

Total

201.0180.5165.8139.4134.2145.9160.2181.6194.0182.6199.3

217.6251.3278.9292.5307.4300.5289.4299.9313.4313.0340.3362.3375.2395.6387.4421.1430.4439.0431.8463.3

474.9484.1515.2533.6559.0

Farm*

15.514.116.515.515.312.715.513.216.616.716.716.417.'619.217.618.017.017.215.918.117.218.116.917.618.219.120.119.619.319.619.520.420.520.421.221.1

Non-farm

185.6166.4149.3123.9118.9133.2144.7168.4177.4165.9182.7201.2233.7259.7274.9289.4283.5272.2284.0295.3295.8322.1345.3357.5377.3368.3401.0410.8419.7412.2443.8

454.5463.7494.8512.4537.9


545.5553.4559.0566.6

571.8577.4587.2599.0

608.8618.6628.4633.5

Grossgov-ern-

mentprod-uct*

16.817.617.817.418.721.623.127.125.527.727.9

28.735.852.081.694.392.448.436.937.038.840.2

49.953.853.352.452.353.153.954.354.8

56.357.560.561.863.3

492.0499.3504.4511.0

515.1519.9528.8538.9

547.3556.0564.3568.4

( 6 )

(6)

(8)(6)

(6)(6)

(8)(6)

(6)

(8)(6)

(6)

(•)(8)(*)(fl)

(6)(6)

(8)(6)

(6)

(8)(8)( 8 )

53.654.154.755.6

56.757.558.460.1

61.562.664.165.1

567.0574.1578.0583.4

586.9589.8598.0606.2

612.9620.2626.6629.4

506.9513.6517.3522.8

525.8528.3535.9543.9

550.2557.2563.0565.3

(6 )

(8)(6)(6)

(8)(8)(8)(6)

(8)(8)(8)(8)

(8)

15(e)(8)(8)(6)(6)(8)(8)(8)

60.060.560.760.6

61.161.562.162.3

62.663.063.664.0

1 Gross national product less compensation of general government employees, i. e., gross product accruingfrom domestic business, households, and institutions and from the rest of the world.

a See Survey of Current Business, October 1958, for description of series and estimates in current and con-stant prices and implicit deflators for 1910-57.

aIncludes compensation of general government employees and excludes compensation of employees ingovernment enterprises. Government enterprises are those agencies of government whose operating costsare at least to a substantial extent covered by the sale of goods and services, in contrast to the general activi-ties of government which are financed mainly by tax revenues and debt creation. Government enter-prises, in other words, conduct operations essentially commercial in character, even though they performthem under governmental auspices. The Post Office and public power systems are typical examples ofgovernment enterprises. On the other hand, State universities and public parks, where the fees and ad-missions cover only a nominal part of operating costs, are part of general government activities.

< See footnote 1, Table B-2.8 Preliminary estimates.* Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

200


T A B L E B-9.—Personal consumption expenditures, 1929-64


Yearor

quarter

1929

19301931193219331934

19351936193719381939

19401941194219431944

1945..._1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964 K__

1962:IIIIIIIV

1963:IIIIIIIV

1964:IIIIIIIV 4....

|io

nal

cons

umF

pend

itur

esot

al

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100. 5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293. 2313.5

328.2337.3356. 8375.0399.2

Durable goods

otal

9.2

7.25.53.63.54.2

5.16.36.95.76.7

7.89.77.06.66.8

8.115.920.622.724.6

30.429.529.132.932.4

39.638.540.437.343.6

44.943.748.452.157.0

les

and

par

ts

1a ut

oi

<

3.2

2.21.6. 9

1.11.4

1.92.32.41.62.2

2.73.4

.7

. 8

. 8

1.03.96.37.49.8

13.011.611.014.013.4

18.315.817.113.918.1

18.817.120.622.724.2

and

hous

e-ju

ipin

ent

ture

Id e

c

¥4.8

3.93.12.11.92.2

2.63.23.63.13.5

3.94.94.73.93.8

4.68.7

11.011.911.5

14.014.214.114.714.8

16.617.417.417.418.9

19.119.320.221.424.0

ther

O

1.2

1.1.9.6. 5.6

.7

. 81.0. 9

1.0

1.11.41.61.92.2

2.53.33.43.43.3

3.43.73.94.14.3

4.85.35.86.06.6

7.17.37.68.08.8

Nondurable goods

ota

l37.7

34.028.922.822.326.7

29.332.835.234.035.1

37.243.251.359.365.4

73.284.893.498.796.6

99.8110.1115.1118.0119.3

124.8131.4137.7141.6147.1

151.8155.4162.0167.5177.1

lud

ing

alco

-ev

erag

es i

It

19.5

18.014.711.410.912.2

13.615.216.415.615.7

16.719.423.727.830.6

34.140.745.848.246.4

47.453.455.856.657.7

59.262.265.267.468.1

69.771.073.970.080.0

ind

sho

es2

ing

ilo

th

O

9.4

8.06.95.14.65.7

6.06.66.86.87.1

7.48.8

11.013.414.6

16.518.218.820.119.3

19.621.121.921.921.9

23.424.525.425.727.5

28.128.729.930.733.2

ind

oil

0 3

o1.8

L.7L.5L.5L.5L.6

L.7L.92.12.12.2

2.32.62.11.31.4

1.83.03.64.45.0

5.46.06.77.58.0

8.89.6

10.410.511.1

11.711.912.312.813.6

1O7.0

6.35.74.85.37.2

7.99.19.89.5

10.1

10.812.314.516.718.7

20.822.925.226.025.9

27.4. 29.5

30.731.831.7

33.435.236.738.040.5

42.343.845.848.050.4

Services

3oH

32.1

29.826.922.920.721.0

21.923.525.125.025.8

26.929.031.534.737.7

40.446.451.456.960.0

64.970.275.681.886.3

92.5100.0107.1114.3122.8

131.5138.3146.4155.3165.1

ousj

W

11.4

11.010.39.07.97.6

7.67.98.48.89.0

9.310.010.811.311.9

12.413.815.617.619.3

21.223.225.427.529.1

30.732.735.237.739.6

41.944.246.548.951.5

i op

erat

ion

"o

o

w4.0

3.93.53.02.83.0

3.23.43.73.63.8

4.04.34.85.25.9

6.46.77.47.98.4

9.310.110.811.712.1

13.514.815.816.918.1

19.520.421.622.724.4

1l2.6

2.21.91.61.51.6

1.71.92.01.92.0

2.12.42.73.43.7

4.05.15.56.06.1

6.36.97.48.07.9

8.38.69.09.2

10.0

10.710.711.311.712.2

O

14.0

12.711.29.38.58.8

9.410.311.110.711.0

11.412.313.114.716.3

17.520.823.025.426.2

28.129.932.034.637.1

39.943.847.050.655.1

59.563. 067.072.077.1


350.5354.0358.5364.0

369.2372.0377.4381.3

390.0396.1404.6406.2

47.447.748.450.2

51.151.552.253.6

55.957.058.756.2

19.720.320.521.8

22.422.622.623.2

24.324.125.622.7

20.119.920.320.6

20.821.021.622.3

23.124.224.224.4

7.67.67.77.7

7.87.98.08.2

8.58.88.89.C

159. 5161.0162.9164.4

166.0166.6168.6168.9

172.9175.3179.5180.8

72.773.574.575.0

75.675.976.176.5

78.379.081.181.4

29.629.730.030.2

30.430.131.330.9

32.133.233.833.6

12.212.212.312.5

12.712.812.913.0

13.313.513.513.9

45.145.646.146.6

47.347.848.348.6

49.249.651.051.8

143.6145.3147.2149.5

152.1153.9156.6158.8

161.1163.8166.4169.2

45.646.246.847.5

48.048.649.249.8

50.551.151.852.4

21.321.321.722.0

22.422.422.923.0

23.524.024.825.3

11.111.211.411.5

11.611.711.711.8

12.012.212.212.4

65.666.567.368.5

70.071.372.774.1

75.176.477.779.1

i Quarterly data are estimates by Council of Economic Advisers.J Includes standard clothing issued to military personnel.J Includes imputed rental value of owner-occupied dwellings.* Preliminary estimates.

NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics (except as noted).

201


TABLE B-10.—Gross private domestic investment, 1929-64


Year orquarter

privatedomes-tic in-vest-ment

1929

19301931193219331934

19351936 . -.193719381939

194019411942 „1943 .. .1944

1945194619471948 . .1949

19501951195219531954

19551956195719581959

I9601961196219631964 4

16.2

10.35.5.91.42.9

6.38.411.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.7

71.868.879.182.087.7

1962: III.111...IV.—

1963: I . . .I I . .III . . -IV—

1964: II I . . - .III . . -IV *._

Total

Fixed investment

Total

14.6

10.66.83.53.04.0

5.47.49.57.68.9

11.013.68.16.48.2

11.521.831.938.436.0

43.246.146.849.950.5

58.162.764.658.666.2

68.366.973.377.684.0

New construction >

Total

8.7

6.24.01.91.41.7

2.33.34.44.04.8

5.56.63.72.32.7

3.811.015.319.518.8

24.224.825.527.629.7

34.935.536.135.540.2

40.741.044.246.648.9

Residentialnon-farm

3.6

2.11.6.6.5.6

1.01.61.92.02.7

3.03.51.7.9.8

1.14.87.5

10.1

14.112.512.813.815.4

18.717.717.018.022.3

21.121.123.625.226.0

Other »

Total

5.1

4.12.41.21.01.1

1.31.72.52.02.1

2.53.12.01.41.9

2.76.37.79.39.2

10.112.312.713.814.3

16.217.819.017.417.9

19.719.820.621.322.9

Non-farm Farm

4.8

3.92.31.2.9

1.0

1.21.62.31.81.9

2.22.81.71.21.6

2.55.46.37.87.7

8.510.410.812.112.7

14.616.317.515.916.2

18.018.219.019.821.4

0.3

.3

.91.41.51.5

1.61.81.91.71.6

1.61.61.61.51.7

1.61.61.61.61.5

Producers' durableequipment

Total

5.8

4.52.81.61.62.3

3.14.25.13.64.2

5.56.94.34.05.4

7.710.716.718.917.2

18.921.321.322.320.8

23.127.228.523.125.9

27.625.929.031.035.1

Non-farm

5.2

4.02.61.41.52.1

2.73.64.53.13.7

4.96.13.73.54.7

6.99.8

14.916.414.4

16.218.418.619.518.5

20.625.026.220.323.1

25.123.326.327.931.5

Farm

0.6

.5

.3

.1

.1

.3

.4

.5

.6

.5

.5

1.82.62.9

2.72.92.72.82.3

2.52.22.32.82.9

2.42.62.83.13.5

Change in businessinventories

Total

1.7

- . 4-1 .3-2 .6-1 .6-1 .1

.91.02.2

- . 9.4

2.24.51.8

- . 8-1 .0

-1 .16.4

- . 54.7

-3 .1

6.810.23.1.4

-1 .6

5.84.71.6

-2 .0

3.51.95.94.43.7

Non-farm

1.8

- . 1-1 .6-2 .6-1 .4

.42.11.7

-1 .0.3

1.94.0.7

- . 6- . 6

6.41.33.0

- 2 . 2

6.09.12.11.1

-2 .1

5.55.1.8

-2 .96.5

3.21.55.33.93.6

Farm

-0.2

- . 3.3

(3)- . 3

-1 .3

.5-1 .1

.5

.1

.1

.3

.51.2

- . 2- . 4

- . 5(3)

-1 .81.7

.81.2

.5

.3- . 4

.3

.3

.6

.5

.1


77.478.980.279.9

77.980.282.887.1

85.987.287.390.5

70.572.975.174.5

74.376.678.680.7

83.483.584.584.5

42.544.145.544.9

44.745.947.248.3

49.248.948.948.6

22.523.524.424.0

24.325.125.426.2

26.926.225.725.0

20.620.621.120.9

20.420.821.922.1

22.322.723.123.6

18.319.019.519.3

18.819.220.320.6

20.821.121.622.1

.6

.6

.6

.6

L.6L.6L.6L. 5

L. 5L. 51.5L.5

28.128.829.629.7

29.630.731.432.4

34.234.635.635.9

25.426.126.926.7

26.627.728.529.1

30.731.232.132.2

2.72.72.73.0

3.03.02.93.4

3.53.43.53.6

6.96.15.15.4

3.63.64.26.4

2.53.72.86.0

6.45.54.44.8

3.03.23.76.0

2.23.42.76.3

0.5.6.7.6

.6

.5

.5

.4

.3

.1- . 4

1 Revisions In series on new construction shown in Table B-36 have not yet been incorporated into these

»Includes petroleum and natural gas well drilling, which are excluded from estimates in Table B-36.> Less than $50 million.* Preliminary estimates.



202


TABLE B—11.—National income by type of income, 1929-64


Year or quarter

1929 -19301931.19321933193419351936193719381939

194019411942194319441945194619471948 _1949

19501951 _19521953195419551956 .19571958 -1959

196019611962 . -19631964«

1962- IIII I IIV

1963: I -----III I IIV .

1964- IIII I IIV 6

Totalna-

tionalin-

come1

87.875.759.742.540.249.057.164.973.667.672.881.6

104.7137.7170.3182.6181.2180.9198.2223.5217.7241.9279.3292.2305.6301.8330.2350.8366.9367.4400.5414.5426.9455.6478.5

7 509.8

447 2454.3457.8463.2467.9474.6481.9490.0498.4507.1514.5(*)

Com-

sationof em-ploy-ees »

51.146 839 731 129 534.337 342 947 945 048.152 164.885 3

109.6121 3123.2117.7128 8141.0140 8154.2180 3195.0208.8207.6223.9242.5255.5257.1278.5293.6302.2323.1340.3361.7

316.6322.4325.3328.0332.7338.1342.7347.7352.5358.6364.8370.6

Business and pro-fessional incomeand inventory

valuationadjustment

Total

8.8

7.45.63.43.24.65.46.57.16.87.3

8.410.913.916.818.019.021.319.922.422.723.526.026.927.427.830.432.132.732.535.134.235.336.637.639.3

36.336.636.736.937.137.337.838.338.639.139.639.9

In-come

ofunin-

corpo-ratedenter-prises

8.6

6.75.03.13.74.65.46.67.16.67.5

8.511.514.317.018.119.123.021.422.822.224.626.326.727.627.830.632.633.032.635.234.235.336.637.639.3

In-ven-tory

valu-ation

ad-just-ment

0.1

. 8

. 6

. 3- . 5- . 1—. l- . 1

. 2_ o

(5)- . 6- . 4- . 2- . 1- . 1

—1.7-1 .5

- . 4. 5

- 1 . 1- . 3

. 2- . 2

- . 2- . 5- . 3- . 1- . 1

(5)

(*)

In-come

offarmpro-prie-tors3

6.0

4.13.21.92.42.45.04.05.64.34.3

4.66.5

10.011.411.511.815.315.517.812.914.016.315.313.312.711.811.611.813.511.412.012.913.213.012.7

Rent-al in-come

ofper-sons

5.4

4 83.82 72.01.71.71.82.12.62.7

2.93.54.55.15 45.66.26.57.38.3

9.09.4

10.210.510.910.710.911.912.211.912.112.212.212.312.4

Corporate profitsand inventory

valuationadjustment

Total

10.16.61.6

-2 .0-2 .0

1.12.95.06.24.35.7

9.114.519.723.823.018.417.323.630.828.235.741.037.737.333.743.142.041.737.247.244.544.148.450.857.0


36.336.636.736.837.037.437.938.338.639.339.739.8

(5)

.1- . 1- . 1

- . 2- . 1

.1

13.713.313.012.813.212.812.913.212.612.612.612.9

12.212.212.212.212.312.312.412.412.412.412.412.5

47.148.048.350.349.150.251.453.156.457.958.1

Cor-porateprofitsbeforetaxes *

9.6

3.3- . 8

-3 .0. 2

1.73.15.76.23.36.4

9.317.020.924.623.319.022.629.533.026.440.642.236.738.334.144.944.743.237.447.744.344.248.251.357.2

47 247.948.149.448.951.151.354.356.657.958.0

In-ven-toryvalu-ationad-

just-ment

0.5

3.32.41.0

- 2 . 1- . 6—.2- . 7(5)

1.0- . 7

—.2- 2 . 5—1.2

- . 8—.3—.6

- 5 . 3—5.9- 2 . 2

1.9

—5.0—1.2

1.0- 1 . 0- . 3

- 1 . 7—2.7- 1 . 5- . 3—.5

.2— l

.3

- . 2

—0 1

.1

.9

.2- . 9

2

- . 2- . 1

.1

Netin-

terest

6.4

6.05.85.45.04.94.84.74.74.64.6

4.54.54.33.73.33.23.13.84.24.8

5.56.37.18.29.1

10.411.713.414.816.418.120.122.124.426.8

21.321.822.322.923.524.024.725.425.926.527.127.6

1 National income is the total net income earned in production. It differs from gross national productmainly in that it excludes depreciation charges and other allowances for business and institutional con-sumption of durable capital goods, and indirect business taxes. See Table B-12.

2 Wages and salaries and supplements to wages and salaries (employer contributions for social insuranceand to private pension, health, and welfare funds; compensation for injuries; directors' fees; pay of themilitary reserve; and a few other minor items).

»Excludes income resulting from net reductions of farm inventories and gives credit in computingincome to net additions to farm inventories during the period. Data for 1929-45 differ from those shown inTable B-63 because of revisions not yet incorporated into the national income accounts.

* See Table B-65 for corporate tax liability, corporate profits after taxes, and footnote 3.« Less than $50 million.6 Preliminary estimates.* Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.8 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

203


TABLE B-12.—Relation of gross national product and national income, 1929-64


Year or quarter

Grossna-

tionalprod-uct Total

Less: Capital con-sumption allowances

Depre-ciationcharges Other1

Equals:Netna-

tionalprod-uct

Plus:Sub-sidiesless

jurrentsurplusof gov-

ern-mententer-prises

Less:

Indirect business

Total

7.0

7.26.96.87.17.8

8.28.79.29.29.4

10.011.311.812.714.1

15.517.318.620.421.6

23.725.628.130.230.2

32.935.738.239.342.6

46.449.052.855.959.4

taxes

Fed-eral

1.2

1.0. 9. 9

1.62.2

2.22.32.42.22.3

2.63.64.04.96.2

7.17.97.98.18.2

9.09.5

10.511.210.1

11.011.612.211.913.0

14.014.115.115.616.4

Stateandlocal

5.8

6.16.05.85.45.6

6.06.46.86.97.0

7.47.77.77.88.0

8.49.4

10.812.313.5

14.716.117.619.020.1

21.824.126.027.429.6

32.534.937.840.243.0

Busi-ness

trans-fer

pay-ments

0.6

. 5

. 6

. 7

. 7

. 6

. 6

. 6

. 6

.4

. 5

.4

. 5

. 5

. 5

. 5

. 5

. 6

. 7

. 7

. 8

. 81.01.21.41.3

1.51.61.81.82.1

2.22.42.42.42.5

Sta-tisti-caldis-crep-ancy

0.3

-1 .0.8. 8. 9.7

- . 21.1

- . 2. 5

1.2

.8

.4- . 8

-1 .72.8

4.52.13.5

- . 8. 5

__ nl ! 21.41.3

.9

1.0-2 .4

- . 6- 1 . 5-3 .0

-3 .0-2 .6-1 .8-2 .7

<-2.1

Equals:Na-

tionalincome

1929..

1930..1931. .1932..1933..1934..

1935..1936..1937..1938-1939..

1940..1941. .1942..1943..1944..

1945..1946-1947-1948-1949..

1950..1951..1952-1953..1954..

1955..1956..1957-1958-1959..

1960..1 9 6 1 -1962-1 9 6 3 -1964 3

1962: I . . .II.-III.IV.

1963: I . . .II...III.IV.

1964: II I —Ill—IV »..

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2442.8444.5482.7

502.6518.7556.2583.9622.3

8.6

8.58.27.67.27.1

7.27.57.77.87.8

8.19.0

10.210.912.0

12.510.713.015.517.3

19.122.024.026.528.8

32.034.437.438.641.0

43.044.548.750.853.4

7.7

7.77.67.06.76.6

6.76.76.96.97.1

7.38.19.29.9

10.8

11.29.0

11.113.115.1

16.518.820.923.125.2

27.930.533.435.237.3

39.140.644.646.749.0

0.9

.8

.7

1.01.01.01.2

1.31.72.02.42.2

2.63.23.13.53.6

4.03.94.03.43.7

3.83.94.14.14.4

95.8

82.668.150.948.857.9

65.375.283.077.483.3

92.5116.8149.0181.6199.4

201.0200.0221.3244.0240.8

265.5307.0323.0338.9334.3

365.5384.8405.3405.9441.7

459.6474.1507.5533.1568.8

-0 .1

- . 1

.9- . 2- . 2- . 2

.2

.2- . 2- . 4- . 2

1.01.1.4

.51.61.61.0


545.5553.4559.0566.6

571.8577.4587.2599.0

608.8618.6628.4633.5

48.048.649.049.4

50.050.551.251.7

52.553.153.754.4

(•)(5)(5)(5)

(5)(s)(8)(8)

(5)(5)(5)(5)

(5)(5)(5)(8)

(5)(5)(5)(5)

(s)(8)(5)(5)

497.6504.8510.0517.1

521.8526.9536.0547.3

556.3565.5574.8578.9

1.71.61.61.5

1.31.1

.9

.7

1.0.7.9. 9

51.952.653.153.8

54.655.356.157.3

57.959.060.160.7

15.015.115.015.1

15.415.515.715.9

15.916.416.616.7

36.937.638.138.7

39.239.740.441.3

42.142.643.444.0

2.42.42.42.4

2.42.42.42.4

2.52.52.52.5

-2 .2-2 .9-1 .7

- . 8

-1 .9-4 .3-3 .5-1 .8

-1 .6-2 .4-1 .4(8)

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241.9279.3292.2305.6301.8

330.2350.8366.9367.4400.5

414.5426.9455.6478.5

* 509.8

447.2454.3457.8463.2

467.9474.6481.9490.0

498.4507.1514.5

1 Accidental damage to fixed capital and capital outlays charged to current account.* Less than $50 million.3 Preliminary estimates.< Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.»Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

204


TABLE B-l 3.—Relation of national income and personal income, 1929—64


Venr or quar te r

1929

19301931193219331934

193519361937 __.19381939 -

19401941194219431944

19451946'947'9481949

1950 - . - .1951195219531954 . -

19551956195719581959

196019611962196319641

1962- IIIIIIIV

1963: IIIIIII V

1964- IIIIII-.IV i

Nationalincome

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241.9279.3292.2305.6301.8

330.2350.8366.9367.4400.5

414.5426.9455. 6478.5

2 509. 8

Less:

Corpo-rate

profitsand in-

ven-toryvalu-ation

adjust-ment

10.1

6.61.6

- 2 . 0—2.0

1.1

2.95.06.24.35.7

9 114.519.723.823.0

18.417.323.630.828.2

35.741.037.737.333.7

43.142.041.737.247.2

44.544.148.450.8

2 57.0

Contri-butions

forsocialinsur-ance

0.2

.3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.2

6.16.05.75.25.7

6.98.28.68.79.7

11.012.614.514.817.6

20.621.423.926.928.7

Excessof

wageac-

crualsoverdis-

burse-ments

0.2- . 2

.1

- . 1

Gov-ern-menttrans-

ferpay-

mentsto

persons

0.9

1.02.11.41.51.6

1.82.91.92.42.5

2.72.62.62.53.1

5.610.911.110.511.6

14.311.612.012.915.0

16.017.220.124.525.4

27.331.332.334.335.7

PlUJ

Netinter-

estpaidby

gov-ern-ment

1.0

1.01.11.11.21.2

1.11.11.21.21.2

1.31.31.52.12.8

3.74.54.44.54.7

4.85.05.05.25.4

5.45.76.26.27.1

7.87.48.08.69.2

5:

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.612.413.7

14.515.216.518.019.8

Busi-ness

trans-fer

pay-ments

0.6

.5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

.5

.5

.5

.5

.5

.6

.7

.7

.8

.81.0

?1.4

8

5L.6

88

2.1

2.22.4.2.42.42.5

Equals:

Per-sonalin-

come

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9351.4360.3383.9

401.3417.6442.4464.1491.4


447.2454.3457.8463.2

467.9474.6481.9490.0

498.4507.1514.5(3)

47.148.048.350.3

49.150.251.453.1

56 457.958.1(3)

23.523.924.124.3

26.226.727.127.5

?8. 028.429.029.3

0.1- . 1

32.031.932.233.4

34.533.834.034.7

35.935.535.535.9

7.67.88.18.3

8.48.48.78.8

9.19.39.29.3

16.116.416.517.1

17.217.717.919.1

19.419.820.020.2

2.42.42.42.4

2.42.42.42.4

2.52.52.52.5

434.7441.0444.5449.7

455.2460.2466.3474.5

480.9487.9494.5502.2

i Preliminary estimates.* Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.»Not available.



757-981 O—-65 205


TABLE B-14.—Sources of personal income, 7929-64


Year or quarterTotalper-sonal

income

Wage and salary disbursements l

Total

Commodity-producingindustries

TotalManu-factur-

ing

Distrib-utiveindus-tries

Serviceindus-tries

Gov-ern-

ment

Otherlabor

income

Proprietors»income2

Busi-nessand

profes-sional

Farm3

1929-

1930-1931-1932..1933-1934-

1935-1936-1937-1938-1939-

1940-1941-1942-1943-1944-

1945-1946-1947-1948-1949-

1950-1951-1952-1953-1954-

1955-1956-1957-1958-1959..

I960-1961..1962-.1963..1964«

1962: I...II...III..IV..

1963: I...II...III..IV..

1964: I...II..III.IV«

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9351.4360.3383. 9

401.3417.6442.4464.1491.4

50.4

46.239.130.529.033.7

36.741.946.143.045.9

49.862.182.1

105.6117.0

117.6111.9122.8135.2134.4

146.4170.7184.9198.1196.3

210.9227.6238.5239.8258.5

271.3278.8297.1312.1331.6

21.5

18.514.39.99.8

12.1

13.515.818.415.317.4

19.727.539.249.050.4

45.946.054.360.356.9

63.574.980.588.184.1

91.498.7

102.297.9

107.2

110.4110.8118.5123.3129.8

16.1

13.810.87.77.89.6

10.812.414 611.813.6

15.621.730.940.942.9

38.236.542.546.543.9

49.458.363.069.966.1

72.377.780.676.784.7

87.487.594.298.0

103.0

15.6

14.512.59.88.89.9

10.711.813.212.613.3

14.216.318.020.122.7

24.830.935.238.839.0

41.346.048.751.852.3

55.860.363.463.868.2

71.872.976.680.384.9

8.4

8.07.15.85.25.7

5.96.57.16.87.1

7.58.19.09.9

10.9

12.014.316.017.317.9

19.321.122.624.325.5

27.830.532.834.837.7

40.743.446.449.352.6

4.9

5.25.35.05.16.1

6.57.97.58.28.2

8.410.216.026.633.0

34.920.617.318.820.5

22.328.832.933.934.4

36.038.040.243.245.3

48.451.855.659.264.2

0.6

.5

.5

.4

.4

.5

.6

.6

.6

.6

.7

.7

.91.11.5

1.81.92.32.73.0

3.84.85.36.06.2

7.18.19.19.4

10.4

11.011.612.313.114.1


8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.922.422.7

23.526.026.927.427.8

30.432.132.732.535.1

34.235.336.637.639.3

434.7441.0444.5449.7

455.2460.2466.3474.5

480.9487.9494.5502.2

291.2296.6299.2301.6

305.3310.1314.3318.8

323.2328.7334.3340.0

116.2118.7119.3119.8

120.7122.9124.1125.5

126.7128.9130.8132.8

92.494.294.995.2

96.197.798.599.9

100.6102.4103.8105.2

75.176.477.377.8

78.679.781.081.9

82.784.185.787.2

45.346.346.947.2

48.249.049.950.2

51.352.452.953.9

54.655.155.756.8

57.858.559.461.3

62.463.464.966.1

12.012.212.412.6

12.813.013.213.4

13.714.014.214.5

36.336.636.736.9

37.137.337.838.3

38.639.139.639.9

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.5

11.815.315.517.812.9

14.016.315.313.312.7

11.811.611.813.511.4

12.012.913.213.012.7

13.713.313.012.8

13.212.812.913.2

12.612.612.612.9


206


TABLE B-14.—Sources of personal income, 1929-64—Continued


Year orquarter

1929

19301931193219331934

19351936 . .193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

I9601961196219631964 o

1962: II I —III...IV...

1963: II I —III—IV—

1964: II I —III..IV«.

Rentalincomeof per-sons

5.4

4.83 82.72 01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.66.26.57.38.3

9.09.4

10.210.510.9

10.710.911.912.211.9

12.112.212.212.312.4

Divi-dends

5.8

5.54 12.62 12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.612.413.7

14.515.216.518.019.8

Personalinterestincome

7.4

6.96.96.66 26.1

5.95.85.95.85.8

5.85.85.85.86.2

6.97.68.28.79.4

10.311.212.113.414.6

15.817.519.621.023.5

25.827.530.032.936.0

Transfer payments

Total

1.5

1.52.72.22.12.2

2.43.52.42.83.0

3.13.13.13.03.6

6.211.411.811.312.4

15.112.613.214.316.2

17.518.821.926.327.5

29.533.634.736.738.2

Old-ageand sur-vivorsinsur-ance

benefits

0)

0.1.1.2.2

. 3

.4

.5

.6

.7

1.01.92.23.03.6

4.95.77.38.5

10.2

11.112.614.315.216.0

Stateunem-ploy-

ment in-surancebenefits

0.4.4

.5

.3

. 3

.1

.1

. 41.1.8.8

1.7

1.4.8

1.01.02.0

1.41.41.83.92.5

2.84.02.92.82.6

Vet-erans'

benefits

0.6

.61 6.85

.4

.51.9.6.5.5

.5

.5

. 5

.5

.9

2.86.86.75.85.1

4.93.93.93.73.8

4.24.24.44.64.5

4.54.84.85.05.2

Other

0.9

.91.11.41 61.8

1.91.61.81.92.0

2.02.22.22.22.4

2.73.23.84.24.9

7.96.06.26.66.7

7.07.58.49.4

10.3

11.112.212.713.714.4

Less:Personalcontri-butionsfor social

insur-ance

0.1

.12

.22

.2

.2

.2

.6

.6

.6

.7

.81.21.82.2

2.32.02.12.22.2

2.93.43.83.94.6

5 25.86.76.97.9

9.29 6

10.311.812.7

Non-agricul-

turalpersonalincome *

77.7

70.860 946.943 649.8

53.963.267.062.867.1

72.688.0

111.5137.6151.6

156.8161.2172.8189.2192.1

211.3237.0254.3271.5273.8

295.0317.9336.1343.0368.6

385.1400.4424.9446 6474.2


12.212.212.212.2

12.312.312.412.4

12.412.412.412.5

16.116.416.517.1

17.217.717.919.1

19.419.820.020.2

29.029.630.431.2

31.932.433.434.2

35.035.736.336.9

34.434.334.635.8

37.036.336.537.2

38.338.038.038.4

13.614.314.514.8

14.815.315.415.4

15.616.116.116.1

3.32.72.73.2

3.02.62.63.0

2.82.52.42.6

4.74.74.74.9

4.95.05.05.1

5.25.35.25.3

12.712.612.712.9

14.213.313.413.6

14.814.214.214.3

10.110.310.410.4

11.511.711.912.1

12.312.512.813.0

416.6423.2427.3432.5

437.5442.9449.0456.9

463.9470.8477.6484.9

1 The total of wage and salary disbursements and other labor income differs from compensation of em"ployees in Table B-ll in that it excludes employer contributions for social insurance and excludes the excessof wage accruals over wage disbursements.

2 Excludes income resulting from net reductions of inventories and gives credit in computing income tonet additions to inventories during the period.

• Data for 1929-45 differ from those in Table B-73 because of revisions by the Department of Agriculturenot yet incorporated into the national income accounts.

< Nonagricultural income is personal inccome is personal income exclusive of net income of unincorporated farm enterp rises,farm wages, agricultural net interest, and net dividends paid by agricultural corporations.

» Less than $50 million.• Preliminary estimates.

NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

207


TABLE B-15.—Disposition of personal income, 1929-64

Year or quarter Personalincome

Less:Personaltaxes >

Equals:Dispos-

ablepersonalincome

Less:Personal

con-sumptionexpendi-

tures

Equals:Personalsaving

Percent of dispos-able personal income

Personalconsump-

tion ex-pendi-tures

Personalsaving

Billions of dollars Percent

1929. .

1930..1931..1932..1933..1934..

1935..1936..1937..1938..1939..

1940..1941..1942..1943..1944..

1945..1946..1947..1948..1949..

1950..1951..1952..1953..1954..

1955..1956..1957..1958..1959..

1960..1961..1962..1963..1964 2.

1962: I—.II . .III.IV_.

1963:1—.II...III.IV..

1964:I.__.II...III_.IV 2

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2332.9351.4360.3383.9

401.3417.6442.4464.1491.4

2.6

2.51.91.51.51.6

1.92.32.92.92.4

2.63.36 0

17.818.9

20.918.721.521.118.7

20.829.234.435.832.9

35.740.042.642.346.8

51.452.957.961.659.5

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9308.8317.9337.1

349.9364.7384.6402.5431.8

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.41783181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293.2313.5

328.2337.3356.8375.0399.2

4.2

3.42.5

- . 6- . 6

.1

2.03.63.71.12.9

4.211.127.833.0

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.6

21.727.327.827.532.6


95.1

95.496.1

101.2101.599.8

96.694.694.898.396.0

94.588.176.375.374.8

80.991.697.294.295.5

93.992.292.192.192.6

92.192.492.293.0

93.892.592.893.292.5

434.7441.0444.5449.7

455.2460.2466.3474.5

480.9487.9494.5502.2

56.157.658.559.3

60.161.161.963.3

61.457.758.860.2

378. 5383.4386.0390.4

395.1399.1404.4411.2

419.5430.2435.6442.0

350.5354.0358.5364.0

369.2372.0377.4381.3

390.0396.1404.6406.2

28.029.427.526.4

25.927.127.029.9

29.534.031.035.9

92.692.392.993.2

93.493.293.392.7

93.092.192.991.9

5.1

4.63.9

- 1 . 2- 1 . 3

.2

3.45.45.21.74.1

5.511.923.724.725.1

19.18.42.85.84.5

6.17.87.97.87.4

6.47.97.67.87.0

6.27.57.26.87.5

7.47.77.1

6.66.86.77.3

7.07.97.18.1

1 Includes also such items as fines and penalties.

2 Preliminary estimates.



208


T A B L E B - 1 6 . — Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1964 prices, 1929-64

Year or quarter

Total disposablepersonal income

(billions ofdollars)

Currentprices

1964pricesl

Per capita dis-posable personalincome (dollars)

Currentprices

1964prices

Total personalconsumptionexpenditures

(billions ofdollars)

Currentprices

1964prices !

Per capita per-sonal consump-tion expendi-tures (dollars)

Currentprices

1964prices]

Popu-lation(thou-

sands)

1929.

1930.1931.1932.19331934.

19351936.1937.193vS.1939.

1940.1941.1942.19431944.

1945.1946.1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.1957.1958.1959.

1960.1961.1962.1963.1964

1962: I...II-III.IV.

1963: I...II-III.IV.

1964: I_-II..III.IV«

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4292.9308.8317.9337.1

349.9364.7384.6402.5431.8

155.1

145.3139.9120.8117.9125.8

138.1155.1160.2151.7164.2

175.6200.7227.0236.6246.6

243.8240.8230.6242.6245.3

264.4271.8279.5292.5294.8

313.3329.0337.1340.8356.9

365.3377.9394.9408.1431.8

682

604514389364411

458ol7551505

576697871977

1,060

1,0751,1361,1801,2911,271

1,3691,4741,5211,5821,582

1,6611,7411,8031,8261,904

1,9361,9852,0602,1252,248

1,273

1,1801,127966938995

1,0841,2111,2441,1661,254

1,3291,5051,6831,7311,781

1,7431,7041,6001,6551,644

1,7431,7611,7811,8331,815

1,8961,9561,9681,9572,015

2,0212,0572,1162,1552,248

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256.9269.9285.2293.2313.5

328.2337.3356.8375.0399.2

147.3

138.7134.4122.4119.5125.6

133.3146.6151.8149.3157.6

165.9176.8173.4178.1184.6

197.3220.6224.2228.5234.3

248.3250.7257.3269.5273.1

293.3303.2311.3314.2331.9

342.7349.5366.4380.2399.2


648

576494395369410

442488522497516

544614665735794

8701,040, 148,216,214

,286,360

1,4001,4581,466

1,5551,6041,6651,6841,771

1,8171,8361,9111,9802,079

378.5383.4386.0390.4

395.1399.1404.4411.2

419.5430.2435.6442.0

390.3394.3396.0399.1

402.4405.5409.7414.8

421.5430.5435.0440.4

2,0392,0582,0642,079

2,0972,1112,1312,159

2,1952,2432,2642,288

2,1022,1172,1182,125

2,1362,1452,1592,178

2,2052,2452,2612,280

350.5354.0358.5364.0

369.2372.0377.4381.3

390.0396.1404.6406.2

361.4364.2367.8372.1

376.0377.9382.3384.6

391.8396.4404.1404.6

1,888L,9001,917L,938

1,959L,968L9892,002

2,0402,0662,1032,103

1,209

1,1251,083

981951992

1,0461,1431,1781,1481,203

1,2551,3261,2851,3021,334

1,4111,5601,5561,5591,570

1,6381,6251,6391,6891,682

1,7751,8021,8181,8051,875

1,8971,9021,9632,0082,079

1,9471,9541,9671,981

1,9951,9992,0152,019

2,0492,0672,1002,095

121,875

123,188124,149124,949125,690126,485

127,362128,181128,961129,969131,028

132,122133,402134,860136,739138,397

139,928141,389144,126146,631149,188

151,689154,283156,947159,559162,388

165, 276168.225171,278174,154177,080

180.684183, 756186,656189,375192,072

185,648186,312187,045187,816

188,444189,047189,756190,498

191,120191,744192,434193,145

1 Estimates in current prices divided by the implicit price deflator for personal consumption expendi-tures on a 1964 base.

2 See Table B-2 for explanation.» Total expenditures in 1964 prices divided by population.* Population of the United States including armed forces abroad. Annual data are for July 1; quarterly

data are for middle of period.»Preliminary estimates.


Sources: Department of Commerce (Office of Business Economics and Bureau of the Census) andCouncil of Economic Advisers.

209


TABLE B-17.—Number and money income of families and unrelated individuals, 1947-63

Year

Families1947_1948.1949.

1950.1951.1952.1953.1954.

1955.1956-1957.1958.1959.

1960.1961.1962.1963.

Individuals1947—_1948—1949—-

1950—195119521953—1954

1955—1956-.-1957--1958---1959-.--

1960---.1961..-.1962—1963-—

All families

Number(millions)

37.238.639.3

39.940.640.841.241.9

42.843.443.744.245.1

45.446.347.047.4

Medianincome (1962

prices)

$4,1174,0153,951

4,1884,3284,4424,8094,705

5.0045,3375,3335,3295,631

5,7595,8205.9566,175

Number(millions)

11.912.713.4

12.611.911.410.711.5

10.69.89.9

10.19.7

9.69.89.39.0

Incidence

323334

3229282628

2523232322

21212019

All individuals

Number(millions)

8.28.49.0

9.49.19.79.5

9.710.310.810.7

10.911.211.011.2

Medianincome (1962

prices)

$1,3661.325

385432629599413

497609654602649

786792753779

Poor families *

Poor individuals 2

Number(millions)

4.44.64.8

5.04.74.64.65.0

4.94.74.95.25.1

5.05.05.05.0

Incidence

535553

5352484952

5048474847

46454544

1 Poverty is defined to include all families with total money income of less than $3,000 in 1962 prices;these are also referred to as poor families. Incidence of poverty is measured by the percent that poorfamilies are of all families.

2 Poverty is defined to include all unrelated individuals with total money income of less than $1,500 in1962 prices. Incidence of poverty is measured by the percent that poor unrelated individuals are of allunrelated individuals.

NOTE.—Data for Alaska and Hawaii included beginning in 1959.

Source: Department of Commerce, Bureau of the Census.

2 1 0


TABLE B-18.—Financial saving by individuals, 1939-64 1

[BilHons of dollars]

Year or quarter

1939

19401941194219431944194519461947 __.19481949

1950 _19511952 —1953195419551956195719581959

I9601961196219631964"

1962- IIIIIIIV

1963: I . . .IIIIIIV

1964- IIIIIIIV io

Total

4.2

4.210.529.338 741.437.314.56.72.72.1

1.310.913.010.89.56.8

14.116.216.713.2

8.215.921.222.327.9

6.64 56 42.36.63 46.85.56.57.68.35.4

Cur-rencyandbankde-

posits

3.0

2.94.8

10.916.217.519.010.62.0

—1.8—1.4

3.55.97.04.75.43.34.74.9

10.24.4

2.78.7

18.017.517.9

4.23 36 05.43.22 35.56.52.03.75.96.3

Sav-ingshares

0.1

. 3

.4

. 36

.91.11.21.31.31.6

1.72.33.34 04.75.25.45.26.47.2

8.39.4

10.011.811.4

2.12 81 73.53.23 31.73.72.53.32.03.6

Securities

Total

- 0 . 8

- . 42.6

10.314.115.79.9

- 1 . 42.23.02.3

.9

3.43.4

6.25.05.0

9! 7

— 1

.9- . 9

—. 6

- . 2

1.5

1.11.71.2

- 1 . 1

U.S.sav-ings

bonds

0.7

.92.88.0

11.111.86.91.02.01.61.5

. 3- . 5

. 1

.6

- . 1- 1 . 9- . 5

- 1 . 8

.8A

1.2.8

- . 2

Q

. 3

Othergov-ern-

ment3

- 0 . 9

- . 8.4

2.33.34.64.2

- 2 . 6- . 2

.5

. 1

- . 1- . 41.22.0

- 1 . 13.73.24.4

- 1 . 010.8

- . 9—. 4

.92.04.2

—.8

—. 62

1.9. 6

1.31.51.7

Cor-porateand

other

- 0 . 6

- . 4- . 5

- . 3- . 7

- 1 . 2. 2.4.9.7

.71.62.11.2

. 62.21.82.62.5

.6

.5- 2 . 2- 2 . 8- 2 . 0

- . 1. 1

- . 4- . 6

- • 7

A

. 1

- 1 . 0

Pri-vatensur-ancere-

serves

1.7

1.82.12.52.83.23.53.43.63.73.7

3.94.14.85.05.25.55.55.15.35.5

5.55.86.46.67.4

1.51.41 71.71.41 51.71.91.61.71.72.2

Non-in-

suredpen-sion

funds

0.1

. 1

. 1

. 1

.2

.6

. 9

. 3

. 3

.4

.6

.91.41.61.92.12.32.83.13.33.8

4.14.44.44.75.1

1.21.1

91.01.21 11.11.31.31.21.31.2

Gov-ern-

mentinsur-anceandpen-sionre-

serves8

1.3

1.31.92.63.95.05.13.53.53.62.3

1.14.24.43.22.63.13.73.2

.62.3

3.41.13.04.45.8

- . 22.21 0

- . 1

2 81.5.1.4

3.21.9

. 3

Less

Mort-gagedebts

0.5

.9

. 8

. 1— 4—.1

. 23.24.24.74.0

6.86.96.47 38.8

12.110.58.09.4

13.2

10.911.913.415.916.0

3.63.83 94.43.53 84.04.63.74.14.14.1

Increase indebt

Con-sumerdebt'

0.8

1.0.7

—3.0—1 0

. 1

.62.32.82.42.6

3.71.04.43 71.06.13.32.5

.26.1

4.21.55.06.36.3

- 1 . 12.21 02.9

n

2 51.53.0

- . 72.61.62.8

Secu-ritiesloans'*

- 0 . 2

—.2- . 1

. 36

1.41.5

—2.3—.8

. 4

. 3

.2- . 3

.6

.4

. 9

. 6- . 8- . 1

.4

.2

. 31.01.1.9.5

- . 5- . 4

21.8

- 1 . 3. 9.8.5

- . 6.6. 1. 3

1 Individuals' saving, in addition to personal holdings, covers saving of unincorporated business, trustfunds, and nonprofit institutions in the forms specified.

1 Includes shares in savings and loan associations and shares and deposits in credit unions.» "Other government" includes U.S. Government issues (except savings bonds), State and local govern-

ment securities, and beginning 1951, nonguaranteed Federal agency issues, which are included in "corporateand other" for years prior to 1951.

* Includes insured pension reserves.5 Includes Social Security funds, State and local retirement systems, etc.8 Mortgage debt to institutions on one- to four-family nonfarm dwellings.' Consumer debt owed to corporations, largely attributable to purchases of automobiles and other dura-

ble consumer goods, although including some debt arising from purchases of consumption goods. Policyloans on Government and private life insurance have been deducted from those items of saving.

8 Change in bank loans to brokers, dealers, and others for the purpose of purchasing or carrying securities.» Less than $50 million.

i° Preliminary.

NOTE.—In addition to the concept of saving shown above, there are other concepts of individuals' saving,with varying degrees of coverage, currently in use. The personal saving estimates of the Department ofCommerce are derived as the difference between disposable personal income and expenditures. Conceptu-ally, Commerce saving includes the following items not included in Securities and Exchange Commissionsaving: housing, farm and unincorporated business investment in inventories and plant and equipment,net of depreciation, and increase in debt. Government insurance is excluded from the Commerce savingseries. For a reconciliation of the two series, see Securities and Exchange Commission Statistical Bulletin,July 1964, and Survey of Current Business, July 1964.

The flow-of-funds system of accounts of the Board of Governors of the Federal Reserve System includescapital investments as well as financial components of saving and covers saving of Federal, State, and localgovernments, businesses, financial institutions, and consumers. While the Federal Reserve's estimates ofconsumer saving in financial form are similar to the Securities and Exchange Commission estimates ofindividuals' saving, there are some statistical and conceptual differences in the two sets of data.

Data for Alaska and Hawaii included for all periods.

Source: Securities and Exchange Commission.

211


TABLE B—19.—Sources and uses of gross saving, 1929—64


Year or quarter

Gross private saving and government surplus ordeficit on income and product transactions

1929.

Total

16.7

1930193119321933 . .1934 __.

19351936193719381939

19401941194219431944

11.94.9.3.62.6

6.47.212.17.39.0

13.918.810.55.12.3

1945 4.51946 I 30.61947.19481949.

1950...19511952 _..19531954

1955.1956.1957.1958.1959-

190019611962 . .196319643

1962: IIIIIIIV

1963: IIIIIIIV

1964: IIIIIIIV 3

36.845.933.0

48.555.348.347.047.6

62.471.370.258.173.4

76.274.83.387. r,

4 94.7

Private saving

Total

15.7

12.27.72.01.95.0

8.410.111.58.9

11.2

14.622.641.949.354.2

44.326.523.637.636.1

40.349.252.254.154.4

59.666.169.269.574.9

72.378.85.386.7

4 97.6

Per-sonal

saving

4.2

3.42.5

- . 6- . 6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.523.023.624.723.6

21.727.3

Grossbusi-ness

saving

8.85.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

Government surplusor deficit (-)

Total

1.0

-.3-2.8-1.7-1.4-2.4

-2.0-3.0

.6-1.6-2.1

Fed-eral

1.2

.3-2.1-1.5-1.3-2.9

-2.6-3.5-.2-2.0-2.2

- . 7- 3 . 8-31.4-44.2-51.9

- 1 . 4- 5 . 1

-33.2-46.7-54.6

-39.7 1-42.34.1

13.38.2

- 3 . 1

8.26.1

- 3 . 9- 7 . 1- 6 . 7

42.1 2.943.0 5.245.6 | 1.044.8 -11.451.3 - 1 . 5

50.751.2

27. S 57. 527. 5 59.132. 6 \* 65. 0

3.9- 4 . 2- 1 . 9

.94-2.9

2.212.28.0

- 2 . 5

9.26.4

- 3 . 9- 7 . 4- 5 . 8

3.85.72.0

-9.4-1 .1

3.5-4 .3-4.1-1 .5

4-5.3

Stateandlocal

- 0 . 1

- . 5n

-.2(2).5

.6

.5

.7

.4

.1

1.82.52.7

2.61.91.1.3

- 1 . 0- . 3

.3

- 1 . 0- . 5

- 1 . 0- 2 . 1

.4

.12.12.4

4 2.4

Gross investment

Total

17.0

11.05.71.11.53.3

6.28.3

11.87.8

10.2

14.719.29.73.45.0

9.032.740.445.033.5

47.856.649.748.348.5

63.468.869.656.670.4

73.271.881.584.892.6

Grossprivatedomes-tic in-vest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.867.466.156.672.7

71.868.879.182.087.7

Net for-eign in-vest-

ment l

0.8

.7

.2

.2

.2

.4

- . 1- . 1

.11.1

1.51.1

2- 2 . 2- 2 . 1

- 1 . 44.68.91.9.5

- 2 . 2.2

- . 2- 2 . 0- . 4

- . 41.53.5

— 1-2.3

1.43.02.42.85.0


81.184.784.883.1

81.687. 289.092.9

93.793.793.9(6)

84.386.485.285.3

84.485.687.289.6

93.799.296.9(6)

28.029.427.526.4

25.927.127.029.9

29.534.031.035.9

56.257.157.758.9

58.458.460.259.7

64.165.265.9(6)

-3.1-1.8-.4-2.2

-2.81.61.73.3

(5)-5.5-3.0(6)

-4.4-4.6-2.9-4.5

-4.8-1.0

n

!6

-2.4-7.8-5.2(6)

1.22.82.52.3

2.02.62.42.7

2.42.32.3(8)

78.981.883.182.3

79.782.985.491.1

92.191.392.594.7

77.478.980.279.9

77.980.282.887.1

85.987.287.390.5

1.62.82.92.3

1.92.62.64.1

6.24.15.24.3

Statis-ticaldis-

crep-ancy

0.3

- 1 . 0.8.8.9.7

- . 21.1

- . 2.5

1.2

. 4Q

—l! 72.8

4.52.13.5

- . 8.5

- . 71.21.41.3

1.0- 2 . 4- . 6

- 1 . 5- 3 . 0

- 3 . 0- 2 . 6- 1 . 8- 2 . 7

4-2.1

-2.2

- 1 . 9- 4 . 3- 3 . 5- 1 . 8

- 1 . 6- 2 . 4- 1 . 4

1 Net exports of goods and services less foreign net transfers by Government.2 Deficit of $35 million.8 Preliminary estimates.4 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.5 Less than $50 million.6 Not available.



2 1 2


POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY

TABLE B-20.—Population by age groups: Estimates, 1929-64, and projections, 1970-85[Thousands of persons]

July 1

Estimates:1929

1930..1931..1932..1933..1934..

1935-.1936-.1937..1938..1939..

1940..1941..1942..1943..1944..

1945..1946..1947..1948-.1949.

1950..1951-1952.1953.1954.

1955..1956..1957..1958..1959. .

1960 i..1961 L.1962 L.1963 »..1964...

Projections:2

1970: Series A..Series D_.

1975: Series A..Series D_.

1980: Series A.Series D .

1985: Series A.Series D .

Total

121,770

123,077124,040124,840125,579126,374

127,250128,053128,825129,825130,880

132,122133,402134,860136,739138,397

139,928141,389144,126146,631149,188

151,689154,283156,947159,559162,388

165,276168,225171,278174,154177,080

180,676183,742186,591189, 278192,072

211,430205,886

230,415218,855

252,056233,140

275,622247,953

Age (years)

Under 14

33,864

33,63933,44333,14132,74232,295

31,90031,47831,09130,84430,670

30,52130,54530,76531,38931,827

32,36032,90634,49935,86537, 238

38,59540,03241,49142,97944,585

46,16647,64448,90250,30551,714

53,35053,93654,63455,23755,853

61,73956,195

56,809

77,38360,148

85,76664,681

14 to 19

13,801

13,93613,98114,01414,07014,162

14,29514,44114,55914,67914,749

14,76414,66114,49714,32714,207

13,88713,56013,47213, 21513,009

12,83712,76912,87813,08113,309

13,55313,95514,71115,20415,648

16,21617,55818,46219,03019,763

} 22,940

} 24,801

25,92924,248

29,29923,702

20 to 24

10,696

10,91511,00311,07711,15211,238

11,31711,37511,41111,45311, 519

11,69011,80711,95512,06412,062

12,03612,00411,81411,79411,700

11,61411,46211,26611,00510,762

10,63310, 55810,55410,69810,921

11,11211,40411,87512,60013,144

17,104

19,057

} 20,624

21,47220,485

25 to 44

35,859

36,30936,65436,98837,31937,662

37,98738,288

38,95439,354

39,86840,38340,86141,42042,016

42,52143,02743,65744,28844,916

45,50345,97746,36146,63846,890

47,07647,22047, 24247,12546,999

47,13247,06446,99146,96046,969

48,216

53,597

61,784

} 71,094

45 to 64

21,076

21,57322,03122,47322,93323,435

23,94724,44424,91725,38725,823

26,24926,71827,19627,67128,138

29,06429,49829,93130,405

30,83131,29231,75532,23532,757

33,29733,86534,45035,01035,567

36,20836,76737,32137,88338,483

41,860

43,419

43,250

42,984

65 andover

6,475

6,7056,9287,1477,3637,582

7,8048,0278,2588,5088,764

9,0319,2889,5849,86710,147

10,49410,82811,18511,53811,921

12,31012,75113,19413,62314,084

14, 54914,98215,41915,81216, 231

16,65917,01317,30817,56717,861

19,571

21,172

23,086

25,007

1 Estimates for 1960-63 differ slightly from those shown in Table B-16 because of recent revisions. Totalpopulation figures on an unrevised basis were used in this table since detail for the age groups was not avail-able on the revised basis and since the projections were based on the unrevised figures.

2 Two of four series projected by the cohort method and based on different assumotions with regard tocompleted fertility, which moves gradually toward a level of 3,350 children per 1,000 women for Series Aand 2,450 children per 1,000 women for Series D. For further explanation of method of projection and foradditional data, see Population Estimates, Current Population Reports, Series P-25, No. 286, July 1964.

NOTE.—Data for Armed Forces overseas included beginning 1940 and Alaska and Hawaii beginning 1960.


213


TABLE B-21.—Noninstitutional population and the labor force, 1929-64

Year or month

Nonin-stitu-tionalpopu-

lation i

Old definitions: 21929

19301931193219331934.___ ___ _..

193519361937 _._ _...19381939

1940...1941 _1942_._1943_._1944 _

1945 _1946 _ _ _.1947

New definitions: 219471948 -1949

195019511952_1953. __1954

1955_._1956_ „ _.1957 _ — _19581959

I960 -Including Alaska and

Hawaii196019611962« _196219631964

1963: JanFebMarAprMayJune

JulyAugSeptOctNovDec

Totallaborforce

(includ-ing

armedforces) 1

Armedforces 1

Civilian labor force

Total

Employment3

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-

ment2

Thousands of persons 14 years of age and over

(3)

88(3)

100,380101, 520102,610103,660104,630

105,530106, 520107, 608

107,608108,632109,773

110,929112,075113,270115,094116,219

117, j118,'120,445121,950123,366

124,878

125, 368127,852130,117130,081132,124134,143

131,253131,414131,589131, 739131,865132,036

132,196132,345132, 497132, 682132,853133,025

49,440

50,08050,68051, 25051, 84052,490

53,14053, 74054,32054,95055,600

56,18057, 53060,38064,56066,040

65,30060,97061,758

61,75862,89863,721

64,74965,98366,56067,36267,818

70,38770,74471,28471,946

72,820

73,12674,17574,83974,68175,71276,971

73,32373,99974,38274,89775,86477,901

77, 91777,16775,81176,08676,00075,201

260

260260250250260

270300320340370

5401,6203,9709,02011,410

11,4403,4501,590

1,5901,4561,616

1,6503,0993,5943,5473,350

3,0482,8572,7982,6372,552

2,514

2,5142,5722,8282,8272,7372,738

2,7162,7242,7322,7362,7372,736

2,7442,7492,7492,7422,7392,740

49,180

49,82050,42051,00051, 59052,230

52, 87053,44054, 00054,61055,230

55,64055,91056, 41055, 54054,630

53,86057, 52060,168

60,16861,44262,105

63,09962,88462, 96663,81564,468

65, 84867,53067, 94668,64769,394

70,306

70,61271,60372,01171,85472,97574,233

70,60771,27571,65072,16173,12775,165

75,17374,41873,06273, 34473,26172,461

47,630

45,48042,40038,94038, 76040,890

42,26044, 41046,30044, 22045,750

47, 52050, 35053,75054, 47053,960

52,82055, 25058,027

57, 81259,11758,423

59,74860, 78461,03561,94560,890

62,94464,70865,01163,96665, 581

66,392

66,68166, 79667,99967,846

70.357

65,93566.35867,14868, 09769,06170,319

70,85170,56169,54669,89169. 32568,615

10,450

10,34010,29010,17010,0909,900

10,11010,0009,8209,6909,610

9,5409,1009,250

8,950

8,5808,3208,266

8,2567,9608,017

7,4977,0486,7926,5556,495

6,7186,5726,2225,844

5,696

5,7235,4635,2555,1904,9464,761

4,2064,0494,3374,6735,1785,954

5,4965,3265,3504,7774,039

37,180

35,14032,11028,77028,67030, 990

32,15034, 41036,48034, 53036,140

37,98041.25044, 50045,39045,010

44,24046,93049, 761

49, 55751,15650,406

52.25153,73654,24355, 39054,395

56,22558,13558, 78958,12259,745

60,697

60,95861,33362,74462,65763,86365, 596

61,73062,30962, 81263,42463, 88364,365

64,88265,06564,22064, 54164,54864,576

1,550

4,3408,02012,06012,83011,340

10,6109,0307,70010,390

8,1205,5602,6601,070670

1,0402,2702,142

2,3562,325

3,3512,0991,9321,8703,578

2,9042,8222,9364,6813,813

3,913

3,9314,8064,0124,0074,1663,876

4,6724,9184, 5014,0634,0664,846

4,3223.8573,5163,4533,9363,846

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent of

civilianlaborforce

Percent

56.056.758.862.363.1

61.957.257.4

57.457.958.0

58.458.958.858.558.4

58.759.358.758.558.3

58.3

58.358.057.557.457.357.4

55.956.356.556.957.559.0

58.958.357.257.357.256.5


214


TABLE B-21.—Noninstitutional population and the labor force, 1929-64—Continued

Year and month

Nonin-stitu-tionalpopu-lation i

Totallaborforce

(includ-ing

armedforces)1

Armedforces i

Civilian labor force

Total

Employment2

Total Agri-cul-tural

Non-agri-cul-

tural

Unem-ploy-

ment 2

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unem-ploy-ment

as per-cent of

civilianlaborforce

Thousands of persons 14 years of age and over Percent

1964: Jan..Feb..Mar.Apr.May.June.

July.Aug_Sept.Oct..Nov.Dec.

133,200133,358133,519133,678133,866134,041

134,216134,400134,586134,772134,952135,135

74,51475, 25975,55376,54477,49079,389

78,95878,50976, 86577.11276,89776,567

2,7212,7322,7432,7452,7482,744

2,7402,7512,7432,7372,7312,726

71,79372,52772,81073,79974,74276,645

76,21875,75874,12274,37574,16673,841

67,22868,00268,51769, 87771,10171,953

72,40572,10470,80571,12370,79370,375

3,9933,9314,0174,4295,0075,853

5,8195,4005,2305,1264,5453,785

63,23464,07164,50065,44866,09466,100

66, 58666,70465, 57565,99766, 24866,590

4,5654,5244,2933,9213,6404,692

3,8133,6543,3173,2523,3733,466

55.956.456.657.357.959.2

58.858. 457.157.257.056.7

6.46.25.95.34.96.1

5.04.84.54.44.54.7

Seasonally adjusted 5

1963: Jan.-Feb._Mar_.Apr..May-June..

July..Aug..Sept.Oct-_Nov..D e c .

1964: Jan. _Feb..Mar..Apr__May-June _

July..Aug..Sept.Oct..Nov..D e c .

75, 11175,15775,26775, 59775,68375,604

75,93775, 74575,92175,98176, 28276,120

76,37576, 55176, 54177, 25277, 22577,049

76,92877,00677,02376,99677,14077,432

72,39572,43372, 53572,86172, 94672,868

73,19372, 99673,17273,23973,54373,380

73, 65473,81973, 79874,50774,47774,305

74,18874, 25574,28074,25974,40974, 706

68,25668,13768,42768,72668,63268,748

69,04268,96869,12569,11869,275

69, 56869,84269,81270,48670, 63970,345

70,49670, 45870,46570,37970, 75571,004

5,1234,9074,9405,0185,0194,923

4,9874,8794,8724,9134,9044,884

4,8834,7914,6374,7914,8494,826

4,8644,8174,8154,7214,6714,541

63,13363,23063,48763, 70863,61363,825

64,05564,08964, 25364, 20564,37164,449

64, 68565,05165,17565, 69565, 79065, 519

65, 63265, 64165,65065, 65866,08466,463

4,1394,2964,1084,1354,3144,120

4,1514,0284,0474,1214,2684,047

3,977

4,0213,8383,960

3,6923,7973,8153,8803,6543,702

5.75.95.75.75.95.7

5.75.55.55.65.85.5

5.55.45.45.45.25.3

5.05.15.15.24.95.0

* Data for 1940-52 revised to include about 150,000 members of the armed forces who were outside theUnited States in 1940 and who were, therefore, not enumerated in the 1940 Census and were excluded fromthe 1940-52 estimates.

» See Note.«Not available.* Averages adjusted by Council of Economic Advisers for comparison with previous data. See Note.8 Based on revised seasonal factors; see footnote 4, Table B-22.

NOTE.—Civilian labor force data beginning with January 1963 are based on a 357-area sample. ForJanuary 1960-December 1962 on a 333-area sample; for May 1956-December 1959 on a 330-area sample;for January 1954-April 1956 on a 230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smallersample; and for 1929-39 on sources other than direct enumeration.

Effective January 1957, persons on layoff with definite instructions to return to work within 30 daysof layoff and persons waiting to start new wage and salary jobs within the following 30 days are classifiedas unemployed. Such persons had previously been classified as employed (with a job but not at work).The combined total of the groups changing classification has averaged about 200,000 to 300,000 a month inrecent years. The small number of persons in school during the survey week and waiting to start newjobs are classified as not in the labor force instead of employed, as formerly. Persons waiting to open newbusinesses or start new farms within 30 days continued to be classified as employed.

Beginning July 1955, monthly data are for the calendar week ending nearest the 15th of the month; previ-ously, for week containing the 8th. Annual data are averages of monthly figures.

Beginning April 1962, estimating procedures made use of 1960 Census data; January 1953-March 1962,1950 Census data and 1940-52,1940 Census data were used. For the effects of this change on the historicalcomparability of the data, see Employment and Earnings, May 1962, p. xiv.

Source: Department of Labor, Bureau of Labor Statistics (except as noted).

215


TABLE B-22.—Employment and unemployment, by sex and age, 1947-64

[Thousands of persons 14 years of age and over]

Year or month

Total

Old definitions: *1947..1948 _„_1949—

1950-1951195219531954—

19551956—

New definitions:1

1957—1958. _.1959

196021961—1962 319631964 .

1963:JanFebMarAprMayJune

59,957 42,287 2,78:1,005 42, 490 2, 753 39, 738 18, 515 1,I, 293!42,391 2,

62, 213,43,125 2,686 40,440 19,61, 238142,377 2, 550 39, 827 18,

63,193 43,290 2,642 40,646 19,904 1,803 18,10164, 986 44,153 2,802 41,349 20,8311,962 18,869

65,011 43, 990 2, 750 41,239 21,02163,966 43,042 2,631 40,410 20,924 165,58144,

July-Aug..Sept.Oct._Nov.D e c

1964:Jan. .Feb..Mar..Apr-May.June.

July..Aug..Sept.Oct_.Nov.Dec.

Employed

Males

20Total 14-19 years

years andover

2,795 38,8S3 16,349 1,92158,027 41,677!,59,378 42,428 2. 911 39, 518 16,950 158, 710 41,660 2,68:

39,499 17,670 1, 777

2,674 39^717 18, 902 1

,930 15,02038,974 17,049 1,826 15, 225

Total 14-19years

66,681 44, 485 2, 941 41, 543 22,196 2,091 20,10466, 796 44,318 2, 976 41, 342 22, 478 2,181 20, 29567,846 44, 892 3, 077 41, 815 22,954 2,262 20, 69368,809 45,330 3,079 42,252 23,479 2,223 21,25770,357 46,139 3, 253 42,886 24, 218 2,316 21,903

Females

1,.881

2,821 41, 268 21,492 1,

14,429

15,893, 863 16,652. 857 17,047

088 1,829 17,2598611, 736 17,125

20yearsand

Total

970 19,05019,043

968 19,523

Unemployed

Total

2,1422. 0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,6813,813

3,9314,8064,0074,1663,876

Males

14-19years

1,5951,4302,415

2,1551,1231,0621,0692,161

1,752

3,1552,473

2,5413,0602,4882,5372,271

279262367

339206222195318

292296

351473451

4S0542472566553

Total

1,3161,1712,048

1,816917840875

1,842

1,4601,314

1,5412,6802,022

2,0582,5182,0161,9711,718

Females

547633981

756611533

1,069

903943

1,0431,5261,340

1,3901,7471,5191,6291,605

2014-19 years

and

146153

204150140117197

179214

222284276

310379344413409

402480753

784609471416

724730

8201,2421,064

1,0781,3661,1761,2161,195

Seasonally adjusted *

68,256 45,035 3,035 42,000 23,'" 137 44,855 2,929 41,926 23,

!7 45, ( 2,967 42,68,68,42'68,726 45,236 3,077 42,68,632 ~68, 748 45,

69,04268968

45,191 3,039 42,152 23,441>, 370 3, 043 42,327 23, 378

45,545 3, 076 42, 469 23,497 2,228 2168i 968 45, 582 3,182 42,400 23,386 T " " " ' "

' ">, 578 3,150 42, 428 23,547i, 469 3,148 42,321 23,649», 468 3,119 42,349 23,807i, 498 3,096 42,402 23,835

69,125 45, 57169,118 45,69,269,333 45,

70,458 46,19'

568 45,690842 45,834 3̂ 161 42, 673 24', 008 2\812 45,856 3,223 42,633 23,956486 46,13^ ~"~

70,496 46,334 3,326 43,008_. ._. 42,97642,901

1,221t, 282

23,33923,490

3,120 42, 570 23,878 2,305 21,573. . . 2,332 21,676

2,325 21,6313,246 42,891 24,349 2,282 22,067

70; 639 46,349 3,321 43,028 24,290 2,277 22,01370,345 46,044 3,233 42,811 24,301 2,311 21,990

162 2,

70,465 46,174 3,27370,379 46,140 3,278 42| 862 24^ 239 2,297 2l| 94270,755 46,304 3,254 43,050 24, 451 2,451 22,00071,004 46,404 3,279

2.210 21,0112,195 21,0872.211 21,1282,222 21,2682,259 21,1822,197 21,181

, , 2 6 92,22521,1612,21121,3362,22321,4262,231121,5762,260 21,575

t, 310 21,8523,221 42,976 24', 261 2,308 21,953

„. 2,387 21,904

43,125 24,600 2,323 22,277

4,1394,2964,1084,1354,3144,120

4,1514,0284,0474,1214,2684,047

4,C3,9773,9864,0213,8383,960

3,6923,7973,8153,8803,6543,702

2,562

2,5832,5702,6392,499

2,5122,4152,3892,4052,5542,425

2,4202,3142,3342,3282,2262,342

2,1912,2492,2652,2612,1112,113

478537546583666569

600543567533597

54;509572602589566

511581549481568551

2,0842,1522,0371,9871,9731,930

1,9121,8721,8221,8721,957

1,8751,8051,7621,7261,6371,776

1,6801,6681,7161,7801,5431,562

1,5771,6071,5251,5651,6751,621

1,6391,6131,6581,7161,7141,622

1,6661,6631,6521,6931,6121,618

1,5011,5481,5501,6191,5431,589

398377383449

429369414462447403

409390380438431

348394396451384491

1,1891,2091,1481,1821,2261,206

1,2101,2441,2441,2541,2671,219

1,2571,2731,2721,2551,1811,192

1,1531,1541,1541,1681,1591,098

1 See Note, Table B-21, for explanation of differences between the old and new definitions.2 Beginning 1960, data for Alaska and Hawaii are included.3 Beginning April 1962, not comparable with prior data; see Note, Table B-21.4 Based on revised seasonal factors incorporating data through December 1964. See Monthly Report on the

Labor Force, January 1965 (to be issued in February 1965).

Note.—See Note, Table B-21, for information on area sample used and reporting periods.

Source: Department of Labor, Bureau of Labor Statistics.

216


TABLE B-23.—Selected measures of unemployment and part-time employment, 1948-64

Year or month

New definitions:

1948..1949..

1950..1951..1952..1953..1954..

1955..1956..1957..1958..1959..

1960 «.1961...1962 7.

1964..

1963: Jan.. .Feb._Mar_.Apr__May.June.

July._Aug._Sept.Oct..Nov_.D e c .

1964: Jan. . .Feb..Mar..Apr._May.June.

July..Aug..Sept.Oct..Nov..D e c .

Unemployment rate (percent of civilianlabor force in group)

Allworkers

Experi-enced

wage andsalary

workers

Marriedmen i

Teen-agers,14-19years

Laborforce

time lostthroughunem-ploy-ment

and part-time

work 2

Percent

3.85.9

5.33.33.12.95.6

4.44.24.36.85.5

5.66.75.65.75.2

4 ?,6.7

6.03.73.33.26.0

4.84.44.57.25.6

5.76.85.55.55.0

3.4

4.61.51.41.74.0

2.62.32.85.13.6

3.74.63.63.42.8

12.2

11.37.78.07.111.4

10.210.410.814.413.2

13.615.213.315.614.7

5.15.38.16.6

6.78.06.7

2 6.45.8

Persons employedpart-time in non-

agricultural indus-tries for economic

reasons

Usuallyfull- .

times

Usuallypart-time «

Thousands ofpersons 14 years of

age and over

1,530

1,032917958

(s)1,548

9341,0671,1831,6381,032

1,2431,2971,0491,070

786

965694642

876900986

1,3151,304

1,3171,5161,2881,2191,151


5.65.95.55.45.55.6

5.4'5.45.45.55.75.3

5.35.25.15.04.85.3

4.84.94.95.04.84.5

3.73.73.53.33.33.2

3.23.13.02.93.43.3

3.23.02.92.92.62.8

2.72.62.92.82.52.7

14.115.215.015.617.715.8

16.014.615.315.717.014.7

14.913.814.416.215.915.0

13.115.014.214.414.915.4

6.66.66.36.46.56.6

6.46.36.16.26.36.1

6.26.15.85.95.76.1

5.75.75.85.75.25.3

1,0391,0521,0201,0701,0221,081

1,0481,1781,1731,1011,0341,023

9571,0851,003992932

1,100

995900978973890

1,037

1,2571,2441,2271,1561,1971,246

1,2141,2871,2231,2201,1681,157

1,1641,1651,1271,1541,2161,150

1,1761,2031,1621,1361,0481,078

1 Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950 for March. Thesedata, including 1955 and 1956, have not been adjusted to reflect the change in the definition of employmentand unemployment adopted in January 1957. See Note, Table B-21.

2 Beginning in 1963, this series not strictly comparable with preceding data. Under the current con-cept, the nercent of labor force time lost assumes that unemployed persons looking for full-time work lost37.5 hours, unemployed persons looking for part-time work lost the average hours worked by voluntarypart-time employees, and those on part-time for economic reasons lost difference between 37.5 hours andactual number of hours worked.

' Includes persons who worked part-time because of slack work, material shortages or repairs, new jobstarted, or job terminated. Data for 1949-55 are for the month of May.

4-Primarily includes persons who could find only part-time work. Data for 1949-55 related to May.«Not available.« Beginning 1960, data for Alaska and Hawaii included.7 Not com t arable with prior data. See Note, Table B-21.8 See footnote 3, Table B-24.Source: Department of Labor, Bureau of Labor Statistics.

217


TABLE B-24.—Unemployed persons, by duration of unemployment, 1947-64

Year or month Total un-employed

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over26 weeks

Thousands of persons 14 years of age and over

New definitions:

194719481949

19501951195219531954

19551956195719581959

1960119611962 319631964 .-._

1963: Jan . .Feb..Mar.Apr..May.June-July.Aug_Sept.Oct..Nov.Dec-

1964: Jan..Feb..Mar.Apr_.May.June.

July.Aug.Sept.Oct..Nov.Dec-

4,1464,3074,0964,1354,3024,124

4,1064,0474,0474,1014,3504,019

4,1004,0033,9534,0243,8413,953

3,8273,8253,8623,7273,670


1,7951,7591,7771,8482,0481,892

1,8461,8091,8031,7991,9551,814

1,8611,6191,8541,9211,8671,878

1,6171,8321,8231,7991,6581,705

1,2101,2631,1911,2361,1651,257

1,3121,1961,2341,2141,2721,217

1,1041,1871,0311,2141,0951,108

1,1391,1351,1091,1291,0891,064

521500487518559

496576520562552532

601507545464445541

434410474493507448

544607597580595521

546507558552508490

504500502463489529

524492455452424435

1 Beginning January 1960, data for Alaska and Hawaii are included.2 Beginning April 1962, not comparable with prior data; see Note, Table B-21.3 Based on seasonal factors incorporating data through December 1963. Series based on revised factors

incorporating data through December 1964 will appear in Monthly Report on the Labor Force, January 1965(to be issued in February 1965).

NOTE.—See Note, Table B-21 for information on area sample used and reporting periods.


218


TABLE B-25.—Unemployment insurance programs, selected data, 1940-64

Year or month

All programs

Cov-eredem-

ploy-ment i

Insuredunem-ploy-ment

(weeklyaver-

age) * 3

Totalbenefits

paid(mil-lions

of dol-lars) ««

Insuredunem-ploy-

ment •

State programs

Initialclaims

Ex-haus-tions 8

Insured unem-ployment as per-cent of coveredemployment

Unad-justed

Season-ally ad-justed

Benefitspaid

Total(mil-

lions ofdollars)

(4)

Aver-age

weeklycheck(dol-

lars) •

1940_.1941..1942..1943-.1944..

1915..1946-1947..1948..1949..

1950_.1951-1952..1953-1954..

1955-1956-1957..1958..

19601961196219631964 7

1963: Jan. . . .F e b . .Mar. . .Apr . . .May_.June. .

July. .Aug...Sept...Oct. . .Nov . .Dec.

1964: Jan....Feb..Mar..Apr..May.June..July..Aug..Sept..Oct...Nov._Dec?-

Thousands Weekly average,thousands Percent

24,29128,13630, 81932, 41931,714

30,08731, 85633, 87634,64633,098

34, 30836,33437,00638,07236,617

40,01442, 75843,43644,41245, 728

46, 26447.76648, 42649, 295

46,66546, 63247,06347,89248, 32949,001

49,09549,38149,42449, 25649,05849,309

47,69247, 67748,17248,844M9,396950,146

1.331842661149111

7202,8041,8051,4682,479

1,6051,0001,0691,0652,048

1,3951,3181,5673,2692,099

2,0672,9941,9241,9731,725

2,7782,7262,4652,0891,7991,628

' 1,6551,5871,4441,4761,6862,122

2,5632,4102,2001,9201,6051,448

1,4911,3961,2561,2641,4171,793

534.7358.8350.480.567.2

574.92, 878.51, 785.01, 328. 72, 269.8

1,467.6'62.9

1,043. 51,050. 62, 291. 8

1, 560. 21, 540. 61,913.04, 209.22,803.0

3, 022.74, 358.23,160.03,025. 92, 745.0

373.0339.6343.0297.8254.6205.0

211.8204.8179.8190.0181.3254. 5

345.6307.9315.6280.9218.3199.3

195.6180.2163.7157.8162.0230.0

1,282814649147105589

1,2951,0091,0021,979

1,503969

1,024995

1,8651,2541,2121,4502,5091,6821,9062,2901.7831,8061,6052,5912,5462,2981,9181,6241,468

81,4971,4381,2961,3331,5421,9722,3952,2432,0501,7551,4471,2971,3431,2601,1251,1381,2931,675

2141641223629

116189187210322

236208215218303226226268370281331350302294268447325272273239240

8 301251226256292415412291259246218218282212194225276348

50302142

538242037

3616181534

2520235033

3146323026

353636373332

282624242227

303132343127

242321202023

5.63.02.2

.5

.4

2.14.33.13.06.24.62.82.92.85.23.53.23.66.44.44.85.64.44.33.86.36.25.64.73.93.53.63.43.03.13.64.75.75.34.94.23.43.13.12.92.52.63.03.9

184.64-44.24.24-1

4-14.24-04.14-14.3

4.34.03.83.83.63.6

3.63.53.43.43.43.6

518.7344.3344.1

79.662.4

445.91,094.9

775.1789.9

1, 736.0

1,373.1840.4998.2962.2

2,026.9

1,350.31, 380. 71,733. 93, 512. 72, 279.0

2, 726.73, 422. 72.675. 42, 774. 72, 522. 4

342.4313.3316.4274.8235.9188.2

195.6186.8163.1172.0165.0233.0

319.3283.8292.6258.0201.5183.1

180.5164.5148.4143.2147.0211.4

10.5611.0612.6613.8415.90

18.7718.5017.8319.0320.48

20.7621.0922.7923.5824.93

25.0427.0228.1730.5830.41

32.8733.8034.5635.2735.85

35.5235.7035.8035.5434.9134.34

34.4334.6734.9335.1535.3735.78

36.0736.2436.2636.0235.5035.27

35.3535.6035.4035.9236.3836.50

1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Rail-road Retirement Board) programs. Beginning October 1958, also includes the UCX program (unemploy-ment compensation for ex-servicemen).

2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January I960), and SRA (Servicemen's Readjustment Act, September 1944-September 1951) programs.Also includes Federal and State programs for temporary extension of benefits from June 1958 throughJune 1962, expiration date of program.

• Covered workers who have completed at least 1 week of unemployment.4 Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annua 1

data are net amounts and monthly data are gross amounts.• Individuals receiving final payments in benefit year.• For total unemployment only.»Preliminary.8 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment be-

ginning July 1963.9 Preliminary, June 1964 is latest month for which data are available for all programs combined. Workers

covered by State programs account for about 87 percent of the total.

NOTE.—Data for Alaska and Hawaii included for all periods and for Puerto Rico since January 1961.

Source: Department of Labor, Bureau of Employment Security.

219


T A B L E B—26.—Number of wage and salary workers in nonagricultural establishments, 1929—64x

[Thousands of employees]

Year or month

Totalwageand

salarywork-

Manufacturing

TotalDura-

bleNon-dura-ble

goods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionandpub-lic

utili-ties

FiWhole- nance,

insur-ance,andreal

estate

andretailtrade

Serv-iceandmis-cel-

lane-ous

Government

Fed-eral

State

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

I9601961196219631964

1962: Jan_.Feb-Mar.Apr.MayJune

July.Aug.Sept.Oct.Nov.Dec-

31,339

29,42426,64923,62823,71125,953

27,05329,08231,02629,20930,618

32,37636,55440,12542,45241,883

40,39441.67443,88144,89143, 778

45,22247,84948,82550,23249,022

50.67552,40852,89451,36853,297

54,20353,98955,51556,64358,178

10.702

9,5628,1706,9317,3978,501

9,0699,82710,7949,44010,278

10,98513,19215,28017,60217,328

15,52414.70315,54515, 58214,441

15,24116,39316,63217,54916,314

16,88217,24317,17415,94516, 675

16, 79616,32616,85317,00517,301

()4,715

5,3636,9688,82311,08410,856

9,0747,7428,3858,3267/"

8,0949,0899,34910,1109,129

9,5419,8349,8568,8309,373

9,4599,0709,4819,625

()5,564

5,6226,2256,4586,5186,472

6,4506,9627,1597,2566,953

7,1477,3047,2847,4387,185

7,3407,4097,3197,1167.303

7,3367,2567,3727,3807,454

1,087

1,009873731744

897946

1,015891854

925957992925892

862955994

901929898866791

792822828751732

712672650635636

1,497

1,3721,214970809862

9121,1451,1121,0551,150

1,2941,7902,1701,5671,094

1,1321,6611,9822,1692,165

2,3332,6032,6342,6232,612

2,8022,9992,9232,7782,960

2,8852,8162,9022,9833,105

3,916

3,6853,2542,8162,6722,750

2,7862,9733,1342,8632,936

3,2743,4603,6473,829

3,9064,0614,1664,1894,001

4,0344,2264,2484,2904,084

4,1414,2444,2413,9764,011

4,0043,9033,9063,9143,974

6,123

5,7975,2844,6834,7555,281

5,4315,8096,2656,1796,426

6,7507,2107,1186,9827,058

7,3148,3768,9559,2729,264

9,3869,74210,00410,24710,235

10,53510,85810,88610,75011,127

11,39111.33711,56611,80312,184

1,509

1,475:. 407,341,295,319

,335,388,432,425,462

,502,549,538,502,476

,497,697,754,829., 85'

1,9191,9912,0692,1462,234

2,3352,4292,4772,5192,594

2,6692,7312,8002,8732,945

3,440

3,3763,1832,9312,8733,058

3,1423,3263,5183,4733,517

3,6813,9214,0844,1484,163

4,2414,7195,0505,2065,264

5,3825,5765,7305,8676,002

6,2746,5366,7496,8117,115

7,3927,6107,9478,2308,532

560559565652

753826833829905

9961,3402,2132,9052,928

2,8082,2541,8921,8"1,9

1,92,3022,4202,3052,188

2,1872,2092,2172,1912,233

2,2702,2792,3402,3582,348

Seasonally adjusted

54,69555,00355,16255,41155,50255, 565

55,65755,67355,76755,80255,87455,881

16,66916,74816,80616,90616,89016,911

16,91616,87216,90016,89416,88516,866

9,3389,4039,4489,5049,5069,512

9,5279,4899,5169,5189,5119,517

7,3317,3457,3587,4027,3847,399

7,3897,3837,3847,3767,3747,349

666666663659658652

645648644642635630

2,7632,8722,8602,9242,9262,878

2,9312,9272,9282,9272,9332,913

3,9043,9093,9163,9193,9163,908

3,8813,8983,9003,9083,9003,913

11,41211,46811,51911, 54311, 57311, 591

11,60911,59911,61611,60611,62311,625

2,7712,7722,7792,7862,7942,797

2,8012,8102,8132,8212,8292,830

7,7877,8227,8497,8847,9157,955

7,9808,0058,0278,0338,0448,064

2,2992,3052,3082,3132,3222,333

2,3352,3372,3362,3332,3502,346


220


TABLE B-26.—Number of wage and salary workers in nonagricultural establishments, 1929-641

Continued[Thousands of employees]

Year or month

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-

blegoods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionandpub-lic

utili-ties

Whole-saleand

retailtrade

Fi-nance,insur-ance,andreal

estate

Serv-ice

andmis-cel-

lane-ous

Government

Fed-eral

Stateandlocal

Seasonally adjusted

1963: Jan.. .Feb.-Mar..Apr..May.June_.

July..Aug..Sept..Oct..Nov..Dec-

1964: Jan...Feb-_Mar._Apr__May_June.

July..Aug..Sept_.Oct...Nov»Dec 3.

55,90056,04456,18756,36856,51156,601

56,76356,76856,86857,07057,10157,291

57,33457,68457,75457,82757,93158,104

58,25658,30158,45858,38258,87159,097

16,89816,88816,93416,99017,03017,013

17,05817,00317,02517,06617,05917,115

17,13117,17117,20817,22417,22517,285

17,34417,33917,44917,17117,51217,593

9,5499,5439,5669,6089,6319,630

9,6619,6199,6489,6679,6709,717

9,7259,7409,7849,7989,7809,826

9,8909,8869,9869,702

10,00210,076

7,3497,3457,3687,3827,3997,383

7,3977,3847,3777,3997,3897,398

7,4067,4317,4247,4267,4457,459

7,4547,4537,4637,4697,5107,517

630630631636637640

641638636636635636

632633633633631639

639634634638640644

2,9142,8972,9042,9642,9742,990

3,0063,0163,0193,0153,0153,052

2,9413,1323,1223,0813,0933,106

3,1073,1033,0803,1063,1673,225

3,8143,9073,8983,9013,9153,921

3,9323,9373,9473,9403,9323,931

3,9363,9433,9403,9643,9683,965

3,9833,9994,0053,9963,9974,003

11,64811,67911,70911,72611,75611,788

11,81111,83711,85711,89011,91011,950

12,02112,08312,07712,09612,13512,187

12,22312,23112,22912,27812,30712,318

2,8402,8462,8552,8602,8692,872

2,8742,8792,8812,8932,8962,904

2,9112,9172,9242,9312,9342,943

2,9482,9512,9602,9642,9702,979

8,0798,0988,1368,1548,1838,213

8,2698,2828,2908,3468,3528,366

8,4018,4378,4558,4618,4898,509

8,5618,5738,5928,6338,6308,644

2,3462,3482,3482,3512,3472,344

2,3422,3392,3422,3452,3452,346

2,3422,3372,3372,3412,3392,323

2,3222,3282,3202,3312,3542,361

6,7316,7516,7726,7866,8026,820

6,8306,8376,8716,9396,9576,991

7,0197,0317,0587,0967,1177,147

7,1297,1437,1897,2657,2947,330

1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of the pay period which includes the 12th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagricultural employment of the civilian labor force (Table B-21) which include proprietors,self-employed persons, domestic servants, and unpaid family workers; which count persons as employedwhen they are not at work because of industrial disputes, bad weather, etc.; and which are based on asample survey of households, whereas the estimates in this table are based on reports from employingestablishments.

8 Not available.»Preliminary.

NOTE.—Data are based on the 1957 Standard Industrial Classification and March 1963 benchmark data.Data for Alaska and Hawaii included beginning 1959.


757-981< 221


TABLE B-27.—Average weekly hours of work in selected industries, 1929-64

Year or month

Manufacturing

Total Durablegoods

Non-durablegoods

Con-tractcon-

struc-tion

Retailtrade

(excepteating

anddrink-

ingplaces)

Whole-sale

trade

Bitumi-nouscoal

mining

Class Irail-

roads *

Tele-phonecom-

muni-cation «

1929—.19301931—.

1934193519361937193819391940194119421943194419451946194719481949

19501951

1953...1954—1955...1956—1957—1958...1959...

1960...1961...1962...1963—1964 «.

1963: Jan._.Feb._.Mar. .Apr...M a y -June. .July...Aug...Sept..Oct . . .Nov.. .Dec-..

1964: J a n . . .Feb. . .Mar—AprMay. .June..July—Aug.. .Sept. .Oct . . .Nov «..Dec«_.

44.2

42.140.538.338.134.636.639.238.635.637.7

38.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.7

40.540.340.440.140.440.540.440.440.540.640.540.740.240.740.610.740.640.6

40.640.840.540.540.941.1

841.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.0

38.839.739.239.339.639.639.7

38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.1

38.133.328.127.029.326.826.228.527.723.326.827.830.732.436.343.042.041.340.337.732.334.734.933.834.132.337.337.536.333.335.835.835.9

»37.0•38.9

38.838.939.139.540.140.541.042.3

4 41.739.437.439.238.538.939.138.538.738.939.639.539.038.439.239.639.439.940.040.2

Seasonally adjusted Unadjusted

41.241.041.040.741.041.341.141.041.241.341.241.341.141.341.241.441.341.441.341.541.441.241.641.9

39.639.639.739.339.639.639.539.639.739.839.739.739.139.839.739.839.739.639.539.739.439.939.939.8

36.536.337.137.437.437.537.237.137.337.537.137.435.237.637.437.237.337.336.837.035.637.137.739.2

37.837.837.837.937.837.937.937.837.737.737.737.737.337.537.437.437.537.537.737.537.337.537.2(8)

40.640.640.640.640.640.6

40.640.640.540.640.64a 740.440.640.740.740.740.7

40.740.740.540.640.9

39.039.136.638.439.741.1(8)38.039.339.237.840.039.638.636.837.639.140.4(3)

39.937.740.740.4

43.043.341.543.043.641.943.743.142.143.842.743.043.543.142.843.442.444.344.3(8)(')(8)((?)

39.839.639.539.740.040.340.140.540.440.839.639.339.639.539.339.840.040.240.241.840.841.0

()1 Data relate to all employees who received pay during the month, except executives, officials and staff

assistants.2 Prior to April 1945, data relate to all employees except executives. See footnote 2, Table B-28.3 Not available.* Nine-month average, April through December, because of new series started in April 1945.8 Eleven-month average, excludes data for July.6 Preliminary.NOTE.—See Note, Table B-26.Data are for production workers in manufacturing and mining, construction workers in contract

construction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.

The annual figures for 1964 are arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which have been weighted by data on employment.

See Table B-30 for unadjusted average weekly hours In manufacturing.Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.

222


TABLE B-28.—Average gross hourly earnings in selected industries, 1929-64

Year or month

Manufacturing

TotalDura-

blegoods

Non-dura-ble

goods

Con-tractcon-

struc-tion

Retailtrade

(excepteatingand

drinkingplaces)

Whole-sale

trade

Bitu-minous

coalmining

Class Irail-

roads i

Tele-phonecom-

munica-tion 2

Agri-cul-

t u r e '

1929..1930..1931..1932..1933-1934..1935..1936..1937..1938.-1939-1940..1941__1942-1943..1944-1945-1946-1947-1948—1949._19501951-195219531954.—19551956195719581959 _.19601961196219631964 71963: Jan....

Feb...Mar...Apr...May_-June—.July—Aug...Sept...Oct....Nov...Dec. _.

1964: Jan.—Feb...Mar...Apr...May..June...July—Aug..-Sept—Oct..._Nov 7..Dec 7__

$0.560.546.509.441.437.526.544.550.617.620.627.655.726.851.9571.0111.0161.0751.2171.3281.3781.4401.561.651.741.781.861.952.052.112.192.262.322.392.462.542.432.432.442.442.452.462.462.432.472.472.492.512.522.512.512.532.532.532.532.522.572.532.562.58

8$0,492

.467

.550

.571

.580

.667

.679

.691

.716

.799

.9371.0481.1051.0991.1441.2781.3951.4531.5191.651.751.861.901.992.082.192.262.362.432.492.562.642.712.602.612.612.622.632.642.632.612.652.662.672.692.692.692.692.702.712.712.712.712.752.702.732.76

(0(«)

$0.412.419.505.520.519.566.572.571.590.627.709.787.844.886.9951.1451.2501.2951.3471.441.511.581.621.671.771.851.911.982.052.112.172.222.292.202.202.212.212.212.222.222.212.242.242.252.272.282.272.272.282.292.292.292.292.322.302.312.32

(4)(4)(4)(4)(4)

(4)(4)(4)(4)(«)(*)(4)

$1.5411.7131.7921.8632.022.132.282.392.452.572.712.822.933.083.203.313.413.553.413.403.383.333.353.363.393.413.453.463.433.533.573.533.513.523.503.493.533.543.583.613.56

(*)

()(*)(*)(4)

8$0,484

.494

.518

.559

.606

.653

.699

.797

.901

.9721.015

.050

.13

.18

.25

.29

.341.40

.47

.52

.57

.62

.68

.74

.80..87L. 78.78.78.79.80.81.80

L80.82.83.83.80.84.85.85.86

1.87L87..87.87

()$0.610

.628

.658

.674

.688

.711

.763

.9901.1071.2201.3081.3601.4271.521.611.701.761.831.942.022.092.182.242.312.372.452.522.412.422.432.442.452.462.442.452.482.482.482.482.482.502.502.512.532.522.522.522.542.542.55

(*)

$0,659.662.626.503.485.651.720.768.828.849.858.854.960

1.0301.1011.1471.1991.3571.5821.8351.8771.9442.142.222.402.402.4>2.722.922.933.113.143.12

«3.12•3.15«3.30

3.113.153.133.113.123.14

3.143.183.153.163.213.213.203.203.283.303.33

3.343.363.353.38

(*)

()$0,730

.733

.743

.837

.852948

.955

.087

.186

.301

.427

.572

.73

.83

.88

.93

.962.122.262.442.542.612.672.722.76(4)

2.752.812.772.752.742.782.752.752.782.742.782.782.762.802.762.762.782.772.77(*)(4)

$0,241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.818.834.856.880.904.948

.799

.872

.962

.827

.897

~9i5

1 For coverage of series, see footnote 1, Table B-27.2 Prior to April 1945, data relate to all employees except executives; for April 1945-May 1949, mainly to

employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

» weighted average of all farm wage rates on a per hour basis.< Not available.• Nine-month average, April through December, because of new series started in April 1945.• Eleven-month average, excludes data for July.»Preliminary.NOTE.—See Note, Table B-26.Data are for production workers in manufacturing and mining, construction workers in contract con-

struction, and for all nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.

The annual figures for 1964 are arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which have been weighted by data on man-hours.

Data for Alaska and Hawaii included beginning 1959.Sources: Department of Labor, Bureau of Labor Statistics, and Department of Agriculture.

223


TABLE B-29.—Average gross weekly earnings in selected industries, 1929-64

Year or month

Manufacturing

TotalDura-

blegoods

Non-durablegoods

Con-tractcon-

struc-tion

Retailtrade

(exceoteajin?

anddrink-

ingplaces)

Whole-sale

trade

Bitumi-nouscoal

mining

Class Irail-

roads *

Tele-phonecom-mu-nica-tion»

1929..1930..1931..1932..1933..1934..1935..1936..1937..1938..

1940...1941...1942...1943...1944...1945...1946...1947...1948...1949...1950...1951...1952...1953...1954...1955...1956...1957...1958...

19601961196219631964»1963: Jan.—

F e b . -Mar...AprMay..June..July...Aug...Sept__Oct.-.Nov.. .Dec-._

1964: Jan._.F e b . -Mar...Apr. . .M a y -June- .July—Aug.-Sept—Oct. . .Nov*.Dec 8_.

$24. 7623.0020.6416.8916.6518.2019.9121.5623.8222.0723.6424.9629.4836.6843.0745.7044.2043.3249.1753.1253.8858.3263.3467.1670.4770.4975.7078.7881.5982.7188.2689.7292.3496.5699.63

103.3897.4497.2098.0997.3699.23

100.3799.6398.42

100.53100.78100.85102.66100.30101.15101.40102.47102.97103.48102.97103.07104.60102.97104.70106.55

$26.8424.4220.9815.9916.2018.5921.2423 7226.6123.7026.1928.0733.5642.1748.7351.3848.3646.2251.7656.3657.2562.4368.4872.6376.6376.1982.1985.2888.2689.2796.0597.44

100.35104.70108.50112.19105.82106.23106.49106.37108.36109.82108.09107.01109.45110.12110.00111.90109.21110.29110.29111.51112.47113.01111.92112.47114.13111.51113.57116.47

$22.4721.4020.0917.2616.7617 7318.7719.5721.1720.6521.3621.8324.3928.5733.45

37.4840.3046.0349.5050.3853.4856.8859.9562.5763.1866.6370.0972.5274.1178.6180.3682.9285.9387.9190.9186.2486.2487.0785.9787.5288.5888.3688.4089.3889.3889.1090.5788.2489.4489.6789.8390.9191.3791.1491.8391.8792.0091.9492.80

()

8(3)88

$58. 8765.2767.5669.6876.9682.8686.4188.9190.9096.38100.27103. 78108.41113.04118.08122.47127.19131.71120.71117.64122.36124.21127.30129.02130.52131.97132.14134.59124.51124.61121.74126.37128.12130.24132.65133.32134.49136.64131.03138.62131.36

)

()$21. 0121.3422.1723.3724.7926.7728.5932.9236.9439.7541.6243.1646.2247.7949.7561.2153.0654.7456.8958.8260.7662.3764.0165.9568.0469 9466.9366.7566.7567.4867.6868.9669.3069.3068.6168.4468.2668.4068.2668.8268.6469.1969. 7570.5071.6271.4370.5070.3169.55()

8$26. 7525.1925. 4425.3826.9628.3628.5128.7629.3631.3634.2837.9940.7642.3746.0550.1453.6355.4958.0862.0265.5369.0271.2874.4878.5781.4184.0288.5190.7293.5696.2299.47

102. 5697.3697.5398.1798.8299.47

100.1299.5599.72

100.69100.94100.69101.4399.70

100.75101.25101.91102.97102.82103.07102.82103.12103.38104.30

)

$25.1122.0417.5913.5814.2117.4518.8621.8922.9419.7822.9923.7429.4733 3739.9749.3250.3656.0463.7569.1860.6367.4674.6975.0481.8477.5292.13

102.00106.0097.57

111.34112.41112.01114.46121.43129.09121.29123.17114. 56119.42123.86129.05110.21119.32124.97123.48119.45128.40127.12123. 52117.76123.33129.03134.53122.84133.27126.67136.35136.55

)

()8(3)(3)

8(3)

$31.9032.4734.0339.3441.4946.3646.3250.0055.0360.1162.3664.1470.9374.3076.3378.7482.1288.4094.24

101. 50106.43108.84112.94115. 87118.40

(3)118.25121.67114.96118.25119.46116.48120.18118.53117.04120.01118. 71119.54120.06120.68118.13119.78117.87122.71122. 71

8(3)8

(3)8(3)

$30.0331.7432.1432.6732.8834.1436.4538.54

« 40.1244.2944.7748.9251.7854.3858.2661.2265.0268.4672.0773.4776.0578.7285.4689.5093.3898.95

102.40105.3299.94

101.09100.5899.94

101.24102.00102.36102.26105.30105.04106.08103.36102.18102.56102.70101.79104.28104.40104.52104.52109.10108.12109.47

)

1 For coverage of series, see footnote 1, Table B-27.* Prior to April 1945, data relate to all employees except executives; for April 1945-May 1949, mainly to

employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisoryemploy.es only1 Not available.4 Nine-month average, April through December, because of new series started in April 1945.* Preliminary.NOTE.—See Note, Table B-26.Data are for production workers in manufacturing and mining, construction workers in contract construc-

tion, and for nonsupervisory employees in other industries (except as noted). Data are for pay periodwhich includes the 12th of the month.

The annual figures for 1964 are the product of unweighted arithmetic averages of average weekly hoursand of average hourly earnings for the 12 months and are not strictly comparable with the averages forearlier years.

Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.

224


TABLE B-30.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 7939—64

Year or month

Gross

All manufacturing industries

Averageweeklyhours

Ex-clud-ing

over-time

Average hourlyearnings

Gross

Ex-clud-ing

over-time

Exclud-ing

over-timeand

inter-indus-

try shift(1957-

59=100;

Durable goods manufac-turing industries

Averageweeklyhours

Gross

Ex-clud-ing

over-time

Gross

Averagehourly

earnings

Ex-clud-ing

over-time

Gross

Nondurable goods manu-facturing industries

Averageweeklyhours

Averagehourly

earnings

Oros*

Ex-clud-ing

over-time

1940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964 <1963: Jan

FebMarAprMayJuneJ u l y _ -AugSept _OctNovDec

1964: J an . .FebMarAprMayJuneJulyAugSepOctNov*Dec*

37.7

38.140.643.145.045.243.540.340.440.039.1

40.540.640.740.539.640.740.439.839.240.3

39.739.840.440.540.740.140.040.239.940.540.840.40.540.740.840.540.939.840.340.440.540.740.940.740.940.40.40.941.3

(00)0)0)

80)0)0)(00)0)0)(00)(0(037.637.5

$0.627.655. 726 $0.691.851.957.011.OKI. 075.21'.328.378.4405665747886

.952.05

37.2 2.1137.6 2.1937.337.437.637.737.6

37.637.537.637.537.737.837.637.637.637.837.537.837.137.637.637.637.737.737.737.637.237.437.637.8

2.262.322.392.462.542.432.432.442.442.452.46

2.462.432.472.472.492.512.522.512.512.532.532.532.532.522.572.532.562.58

. 793

.881

.933«.94i>1.03f1.181.291.341.391.511.591.681.731.791.891.992.052.12

2 202.252.312.372.442.352.362.362.372.372.372.372.352.382.392.402.422.432.432.432.442.442.44

2.442.432.462.432.462.47

32.2

(»)a33.42 37.5a 40.82 43.7»45. 52 50.4

57.863.266.168.273.677.481.684.386.991.596.2

100.2103.5106.8109 8112.5115.4118.3

114.0114.4114.6114.9114.9115.1115.2115.0116.0116.1116.8117.2117.6117.7117.8118.1118.2118.3118.3118.3119.3118.6119.3(9

37.939.242.045.046.546.544. ('40.440.540.439.4

41.141.541.541.240.141.341.040.339.540.7

40.140.340.941.141.440.740.740.840.641.241.641.141.041.341.441.241.640.641.041.041.341.541.741.341.541.541.341.642.2

1.691.716. 799 m. 762

.872

.966.937.048

37.738.238.138.238.338.338.238.037.837.938.138.4

.105

.099

.144

.278

.395

.4531.5191.651.751.861.901.992.082.192.262.362.432.492.562.642.712.602.612.612.622.632.642.632.612.652.662.672.692.692.692.692.702.712.712.712.712.752.702.732.76

1.0191.0311.1111.241.351.421.461.591.681.791.841.912.012.122.212.282.362.422.482. S42.612.522.532.532.542.542.542.542.522.552.562.572.592.602.602.602.612.612.612.612.602.632.592.622.64

37.4

37.038.940.342.543.142.340.540.239.638.939.739.539.739.639.0

39.238.839.739.239.339.639.639.739.239.239.438.939.639.939.840.039.9

38.739.439.539.439.739.939.840.139.640.039.840.0

. 627 $0.

.709

.787

.844

.886

.995L.1451.2501.2951.347 1.31

1.92

36.836.736.836.537.037.137.037.236.937.036.837.1

36.936.736.937.036.9

36.936.836.9

2.052.112.172.222.292.202.202.212.212.212.222.222.212.242.242.25

2.272.282.292.292.292.292.322.302.312.32

1 Not available.2 April used. Annual average not available.3 Eleven-month average; August 1945 excluded because of VJ Day holiday period.4 Preliminary.NOTE.—See Note, Table B-26.Data relate to production workers and are for pay period which includes the 12th of the month.The annual figures for 1964 are arithmetic averages of the monthly figures shown and are not strictly

comparable with the averages for earlier years, which have been weighted by data on employment (in thecase of hours) and man-hours (in the case of earnings).

See Table B-27 for seasonally adjusted average gross weekly hours.Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.

225


T A B L E B—31.—Average weekly earnings, gross and spendable, in manufacturing industries,in current and 1964 prices, 1939-64

Year or month

Average gross weeklyearnings

Currentprices

1064prices l

Average spendable weekly earningsa

Worker with nodependents

Currentprices

1964prices *

Worker with threedependents

Currentprices

1964prices i

1939

19401941194219431944 _ -

1945194619471948 _1949

19501951 _..195219531954

1955 -1956 _.195719581959

1960 —1961196219631964»

1963: Jan. . .Feb. .Mar..

MaylJune.

July_.Aug..Sep..Oct..Nov..D e c .

1964: Jan . .Feb_.Mar__Apr..May.June.

July..Aug..Sep..Oct..Nov3.Dec ' .

$23.64

24.9629.4836.6843.0745.70

44.2043.3249.1753.1253.88

58.3263.3467.1670.4770.49

75.7078.7881.5982.7188.26

89.7292.3496.5699.63

103.38

97.4497.2098.0997.3699.23

100.37

99.6398.42100.53100.78100.85102.66

100.30101.15101.40102.47102.97103.48

102.97103.07104.60102.97104.70106.55

$52.77

55.3462.0669.8777.1980.60

76.2168.8768.2968.5470.16

75.2575.6878.4681.7581.40

87.7289.9389.9688.7493.99

94.0595.7999.04100.94103.38

99.33

99.14101.05101.80

100.5399.31101.44101. 59101.46103.18

100.70101.66101.81102.78103.28103.58

102.76102.97104.29102.56104.08)

$23.37

24.4627.9631.8035.9537.99

36.8237.3142.1046.5747.21

50.2652.9755.0457.5958.45

62.5164.9266.9367.8271.89

72.5774.6077.8679.8284.73

78.1177.9278.6378.0479.5180.38

79.8278.8980.5180.7080.7582.14

82.3082.9783.1684.0184.4084.80

84 4084.48

$52.17

54.2458.8660.5764.4367.00

63.4859.3258.4760.0961.47

64.8563.2964.3066.8167.49

72.4374.1173.7972.7776.56

76.0777.3979.8680.8784.73

79.6279.4380.0779.4780.9781.52

80.5479.6181.2481.3581.2482.55

82.63

84.4085.7787.22

83.4984.2684.6584.88

84.2384.4085.4384.0685.26

(0

$23.40

24.7129.1936.3141.3343.76

42.5942.7947.5852.3152.95

56.3660.1862.9865.6065.65

69.7972.2574.3175.2379.40

80.1182.1885.5387.5892.52

85.7885.5886.3185.7287.2588.18

87.5886.5888.3188.5288.5890.06

90.6890.8991.7792.1892.60

92.1892.2693.5392.18

$52.23

54.7961.4569.1674.0777.18

73.4368.0366.0867.50

95.13

72.7271.9073.5776.1075.81

80.8782.4881.9380.7284.56

83.9785.2587.7288.7392.52

87.4487.2487.8987.2988.8589.43

88.38S7.3789.1189.2389.1190.51

90.2491.1491.2692.0592.4692.69

92.0092.1793.2591.8193.05

i Estimates in current prices divided by the consumer price index on a 1964 base (using 11-month average).> Average gross weekly earnings less social security and income taxes.»Preliminary.«Not available.

NOTE.—See Note, Table B-26.Data relate to production workers and are for pay period which includes the 12th of the month.The annual figures for 1964 are the product of unweighted arithmetic averages of average weekly hours

and of average hourly earnings for the 12 months and are not strictly comparable with the averages forearlier years.

Data for Alaska and Hawaii included beginning January 1959.


226


T A B L E B-32.—Indexes of output per man-hour and related data, 1947-64

[1957-59=100]

Year

1947...1948...1949...

1950...1951...1952...1953...1954...

1955...1956...1957...1958...1959...

1960.-.1961...1962.__1963.__1964 3..

1947...1948._.1949...

1950...1951...1952...1953...1954...

1955...1956...1957...1958...1959...

I960.-.1961...1962...1963...1964 3..

Output per man-hour

Totalpri-vate

Agri-cul-ture

Nonagriculturalindustries

TotalMan-ufac-tur-ing

Non-man-ufac-tur-ing

Output i

Totalpri-vate

Agri-cul-ture




Man-hours

Totalpri-vate

Agri-cul-ture




Establishment basis2

70.973.475.5

80.982.984.788.289.8

93.893.997.299.6

103.2

105.2108.9113.8117.0120.5

50.259.656.8

64.764.069.977.883.4

86.488.394.2

103.0102.8

109.3116.3119.1130.3134.4

76.377.980.8

85.186.587.690.091.4

95.394.997.699.4

103.0

104.6107.8112.6115.0118.3

75.178.281.8

85.187.188.289.590.9

96.895.197.899.1

103.3

103i8106.7112.6115.4119.7

76.877.580.5

84.986.087.190.091.4

94.394.697.599.7

102.8

105.1108.5112.5115.1117.7

68.471.270.8

77.382.084.488.687.2

95.097.098.997.0

104.1

106.8108.7115.7119.8125.6

81.292.888.0

92.887.090.493.797.6

102.9100.599.0

100. f100.0

104.8104.8104.8108.7108.2

67.770.069.8

76.481.784.188.386.6

94. F,96.898. i96.8

104.3

106.9108.9116.4120.4126.6

71.473.970.4

79.687.690.296.189.2

100.3100.0101.294.2

104.6

104.8104.8115.2119.2126.3

65.968.169.6

74.978.981.284.685.3

91.895.397.998.0

104.1

107.9110.9116.9121.1126.8

96.597.093.8

95.698.999.6

100.597.1

101.3103.3101.797.4

100.9

101.599.8

101.7102.4104.2

161.8155.8154.8

143.4136.0129.4120.5117.0

119.1113.8105.197.697.3

95.990.188.083.480.5

88.789.986.4

89.894.496.098.194.7

99.2102.0101.397.4

101.3

102.2101.0103.4104.7107.0

95.194.586.1

93.5100.6102.3107.498.1

103.6105.2103.595.1

101.3

101.098.2

102.3103.3105.5

Labor force basis4

68.570.672.0

77.581.183.787.589.7

94.194.497.599.1

103.4

104.8107.5112.4115.5118.8

50.259.656.4.

64.563.669.477.383.0

85.987.894.2

103.1102.7

109.3116.8119.4130.6134.9

73.874. 576.9

81.484.786.789.591.5

95.895.798.098.8

103.2

104.1106.1111.1113.2116.1

(•)(8)(8)

(8)(5)(«)(5)(•)

(fi)0)(*)(5)(8)(5)

8(5)(8)

(5)(6)(*)(5)(•)(8)(5)(•)(fi)(5)(5)(5)(5)(5)(s)(5)(5)(5)

68.471.270.8

77.382.084.488.687.2

95.097.098.997.0

104.1

106.8108.7115.7119.8125.6

81.292.888.0

92.887.090.493.797.6

102.9100.599.0

100.5100.0

104.8104.8104.8108.7108.2

67.770.069.8

76.481.784.188.386.6

94.596.898.996.8

104.3

106.9108.9116.4120.4126.6

(•)(8)(8)

(8)(«)(•)(*)(8)

(5)(5)(5)(5)(5)

(5)(5)(8)(5)(S)

(5)(5)(5)

(5)(5)(8)(8)(8)

(5)(5)(5)(8)(5)

(8)(*)(5)(«)(*)

99.8100.998.3

99.7101.1100.8101.397.2

101.0102.7101.497.9

100.7

101.9101.1102.9103.7105.7

161.8155.6156.1

143.9136.8130.2121.2117.6

119.8114.5105.197.597.4

95.989.787.883.280.2

91.793.990.8

93.996.597.098.794.6

98.6101.2100.998.0

101.1

102.7102.6104.8106.4109.0

(5)(5)(5)

(5)(s)<•)(5)(8)

8(*)(•)(«)(8)(8>(8)(8>(«)

85.887.986.5

88.291.793.294.093.3

97.3100.7100.498.3

101.3

102.7102.2103.9105.2107.7

* Output refers to gross national product in 1954 prices.> Man-hour estimates based primarily on establishment data.1 Preliminary.« Man-hour estimates based primarily on labor force data.«Not available.

NOTE.—For information on sources and methodology, see Bureau of Labor Statistics (Department ofLabor) Bulletin No. 1249, Trends in Output per Man-hour in the Private Economy, 1909-68.

Data for Alaska and Hawaii included beginning 1960.Source: Department of Labor, Bureau of Labor Statistics.

227


PRODUCTION AND BUSINESS ACTIVITY

TABLE B-33.—Industrial production indexes, industry groupings, 7947-64

[1957-59=100]

Year or month

Totalindus-trial

produc-tion i

Manufacturing

Total

Durable manufactures

TotalPri-

marymetals

Fabri-catedmetalprod-ucts

Ma-chinery

Trans-porta-tion

equip-ment

Instru-mentsand re-latedprod-ucts

Clay,glass,and

lumber

Furni-tureand

miscel-laneous

1947-1948-1949-

1950-1951-1952..1953-1954-

1955-1956-1957-1958-1959-

1960-1961-1962-1963-1964 2.

1963: Jan...Feb....Mar._A p r -May..June..

July..Aug...Sept..Oct...Nov..Dec...

1964: Jan...Feb...Mar..

M Pay"June.,

July..Aug...Sept..Oct...Nov..Dec*.

65.768.464.7

74.981.384.391.385.8

96.699.9100.793.7105.6

108.7109.7118.3124.3131.9

66.468.965.1

75.881.985.292.786.3

97.3100.2100.893.2106.0

108.9109.6118.7124.9132.8

64.367.060.9

74.183.588.599.988.4

101.9104.0104.090.3

105.6

108.5107.0117.9124.5133.2

90.794.379.4

99.9108.799.3

112.591.3

118.4116.4112.287,5

100.4

101.398.9

104.6113.3128.1

75.977.2

85.491.289.0

100.390.2

98.398.8

101.592.9

105.5

107.6106.5117.1123.4132.6

65.366.559.0

72.783.092.1

100.587.7

96.5107.1104.288.8

107.1

110.8110.4123.5129.2140.9

42.946.947.1

56.462.973.191.783.8

102.097.4

106.489.5

104.0

108.2103.6118.3127.0130.7

53.755.249.2

57.365.778.185.382.9

88.795.498.092.1

109.9

116.5115.8123.0130.2136.4

75.879.772.3

87.792.089.392.789.6

100.7102.097.594.1

108.5

105.7104.5109.3114.4121.2

Seasonally adjusted

119.8120.6121.9122.7124.4125.6

125.6125.4125.7126.1126.1127.0

127.7128.2129.0130.5131.3131.6

132.9133.8134.0131.4134.8137.0

120.3121.0122.5123.3125.0126.3

126.1125.7126.2126.8126.9127.9

128.5129.1129.9131.4132.2132.4

133.9134.5134.9131.8135.7138.2

119.6120.4121.9123.1125.2127.1

126.1125.0125.6126.0126.4127.3

128.1128.9130.0131.6132.6133.2

135.0135.7135.2129.6136.5140.2

100.7104.4112.1119.1127.5127.2

121.4109.5107.8108.5109.7110.5

113.6117.6120.9123.8127.1126.1

131.2132.8132.8131.9134.2137

118.9119.8120.1120.2122.1123.9

124.4125.7125.6126.8126.0126.8

128.2129.0129.3129.5130.3130.6

133.3134.8134.3130.8136.9139

125.6126.3126.3126.2127.0128.9

129.6130.3131.9131.7132.8133.9

134.7133.6135.9137.5138.5140.1

141.9142.8144.1144.7146.9149

123.6122.9123.2123.9124.8130.3

127.6128.2129.4130.0129.6131.3

130.8131.1130.1133.0134.1134.9

134.3135.3130.9105.3129.5141

126.1128.1128.8128.4129.5130.2

131.0131.1132.4132.5131.9132.7

132.2133.6134.2134.7134.6134.8

136.4137.4138.6137.6140.4142

109.8109.9113.2113.3113.8113.8

114.0115.0115.9117.4117.2117.0

117.9121.6121.9121.6120.9120.1

122.6121.4120.7121.0120.5120

73.577.471.6

83.780.282.489.786.8

97.9101.097.693.3

109.0

113.3114.1124.5129.1138.4

125.8125.8126.2126.4128.1128.5

130.4130.5131.1130.8131.8132.6

133.0133.9134.7135.6136.2138.0

138.5139.0138.4141.7143.5145


228


TABLE B-33.—Industrial production indexes, industry groupings, 1947-64—Continued

[1957-59=100]

Year or month

Manufacturing

Nondurable manufactures

Total

Textile,apparel,

andleather

products

Paperand

printing

56.769.469.3

76.779.477.782.685.0

92.597.197.897.0

105.2

109.0112.4116.7120.1127.5

Chem-ical,

petro-leum,and

rubberproducts

47.550.849.4

60.767.469.975.274.7

86.891.495.695.5

108.9

113.9118.9131.2141.8151.9

Foods,bever-ages,and

tobacco

Mining Utilities

1947..1948-1949-

1950-1951-1952-1953-1954-

1955..1956-1957-1958-1959-

1960-1961-_1962 „1963..1964 2.

1963: Jan.. .Feb . .Mar_Apr_.May-June.

July.Aug_Sept..Oct...Nov_Dec_.

1964: Jan__Feb. .Mar_Apr_.May.June.

July-Aug_.Sept..Oct..Nov..Dec2.

67.269.568.3

76.078.580.083.683.6

91.695.496.796.8

106.5

109.5112.9119.8125.3132.3

81.084.580.6

89.187.489.590.786.9

95.598.096.995.0

108.1

107.5108.4115.1118.5125.0

80.780.080.8

83.685.487.388.289.8

93.196.696.799.4

103.9

106.6110.2113.3116.8120.4

Seasonally adjusted

79.984.074.5

83.291.390.592.990.2

99.2104.8104.695.699.7

101.6102.6105.0107.9110.9

121.3121.8123.3123. 7124.8125.2

126.0126.6127.0127.7127.6128.7

128.9129.4129.8131.1131.7131.5

132.5133.1134.4134.5134.7135.7

116.0115.8116.5116.4116.9117.9

118.9119.9120.6120.7121.3121.3

120.7122.4121.7121.6123.5122.9

124.9126.0126.8128.5129.9131

114.8115.7115.7119.0121.3121.4

121.2121.9121.6121.7121.7123.9

123.4124.5125.4127.5128.2126.6

128.0127.9128.2128.5128.8130

135.3136.4138.9140.0140.3140.8

142.2143.2144.7146.2146.0146.3

146.4146.9147.4149.5150.0152.1

152.3153.6156.9155.4154.7156

115.1115.1117.3115.0116.5116.8

117.6117.4116.8117.8117.1118.8

120.2119.5120.2121.2120.7119.5

120.5120.5120.0120.9121.7122

103.6105.6105.8107.0108.7109.2

110.1111.1109.9108.6107.5107.3

108.8108.9108.8109.9111.3111.4

110.9111.9111.9111.9112.8112.3

36.540.843.4

49.556.461.266.871.8

80.287.993.998.1

108.0

115.6122.3131.4140.0150.0

135.9137.8137.0136.5138.7140.2

141.9142.4142.1142.3142.1143.0

144.5143.4144.8147.5148.3149.7

151.4154.5153.2153.6153.5154.5

1 Annual indexes for 1929-46 are, respectively: 38.4, 32.0, 26.5, 20.7, 24.4, 26.6, 30.7, 36.3, 39.7, 31.4, 38.3,43.9, 56.4, 69.3, 82.9, 81.7, 70.5, and 59.5.

2 Preliminary.

Source: Board of Governors of the Federal Reserve System.

229


TABLE B-34.—Industrial production indexes, market groupings, 1947-64

[1957-59-100]

Year or month

1947-1948..1949 -

1950..1951..1952-1953-1954-

1955-1956-1957-1958-1959-

1960..1961-1962._1963-1964 2.

1963: Jan...Feb. .Mar.Apr_.May.June.

July..Aug..Sept..Oct...Nov..D e c .

1964: Jan...Feb_.Mar..Apr..May.June-July..Aug..Sept..Oct...Nov..Dec2.

Totalindus-trialpro-duc-tion

65.768.464.7

74.981.384.391.385.8

100.793.7

105.6

108.7109.7118.3124.3131.9

Final products

Total

64.266.664.5

72.878.684.389.985.7

98.199.494.8

105.7

109.9111.2119.7124.9131.5

Consumer goods l

Total

67.169.268.8

78.677.879.585.084.3

93.395.597.096.4

106.6

111.0112.6119.7125.2131.2

Auto-motiveprod-ucts

69.472.672.0

90.680.172.191.385.0

118.397.8

105.286.7

108.1

123.2111.8131.1141.2145.2

Homegoods

Total,includ-

ingdefense

68.871.766.3

91.478.778.890.286.0

97.3100.996.692.8

110.7

110.8112.2122.2129.6140.0

Equipment

55.458.352.0

56.478.494.1

100.588.9

95.0103.7104.691.3

104.1

107.0108.3119.6124.2132.1

Busi-

69.972.663.5

68.083.194.196.685.1

91.9104.7105.389.8

104.9

110.2110.1122.1128.3139.0

Materials

Total

67.070.264.8

76.983.884.392.685.9

99.0101.6101.992.7

105.4

107.6108.4117.0123.7132.4

Dur-able

goods

68.271.064.2

79.587.888.9

100.788.4

104.7105.3104.890.0

105.1

106.6104.8114.1121.2131.0

Non-durablegoods

64.968.264.2

73.378.879.084.183.3

93.097.798.995.4

105.7

108.7112.2120.0126.3133.8

Seasonally adjusted

119.8120.6121.9122.7124.4125.6

125.6125.4125.7126.1126.1127.0

127.7128.2129.0130.5131.3131.6

132.9133.8134.0131.4134.8137.0

122.1122.6123.3122.7123.7125.1

125.2126.0126.3127.2127.0128.0

128.5128.1128.7130.6131.1131.7

132.3133.3132.5130.3134.7137.3

122.2122.8124.0123.2124.3125.9

125.8126.5126.4127.4126.9128.0

128.9128.8128.8130.8131.0131.5

132.1133.1132.0129.2133.7136.8

137.1137.5136.8137.2137.6145.7

140.2141.4143.0145.8145.8146.1

146.6145.5144.3149.3151.4151.7

152.6155.8144.7105.9143.0167

125.4126.2127.4126.8128.8129.8

129.7131.3131.8131.3133.3134.2

134.8137.3136.4137.7136.9137.8

139.7140.1139.8142.4147.0

122.0122.2122.0121.8122.5123.5

124.0125.0126.0127.0127.1128.1

127.9127.1128.8130.7131.3132.0

132.7133.6133.7132.6136.7138.5

125.5125.8125.6125.2126.0127.4

128.4129.7130.7131.8132.0132.9

132.9131.9134.2136.5138.0139.0

140.0141.6141.8140.7145.9148

117.7118.7120.8122.7125.2125.9

126.0124.9125.0125.5125.7125.9

126.7128.1129.3130.6131.3131.8

133.6134.7135.6132.1135.4136.8

114.1115.1118.4121.1124.3125.3

124.6121.4122.1122.3122.6122.6

123.0125.8127.3129.0129.8130.8

132.7134.1135.6128.2134.4136

121.3122.5123.3124.3126.2126.5

127.5128.4128.0128.8128.9129.3

130.4130.6130.8132.3132.8132.9

134.6135.2135.7136.2136.4138

1 Also includes apparel and consumer staples, not shown separately.2 Preliminary.Source: Board of Governors of the Federal Reserve System.

230


TABLE B-35.-

19481949 . -

1950195119521953-1954..

19551956195719581959 --

196019611962196319643

I960* IIIIIIIV .__ __.

1961: IIIIIIIV

1962" IIIIIIIV

1963: IIIIIIIV

1964: IIIIIIIV 3

—Manufacturing capacity, output, and utilization rate,

Period Capacity *

8084

879094

100104

108113119122125

131134139145152

Se

130131132133

133134134136

137138140141

142144146147

149151153155

Output(1957-59=

100)

6965

7682859386

9710010193

106

109110119125133

asonally adjust

112110109105

103108112115

117119120120

121125126127

129132134135

1948-64

Utilizationrate

(percent) 2

8678

8891909383

9088857684

8382858687

ed

86848279

78818485

85868685

85878686

87888887

1 For description and source of data see Frank de Leeuw "The Concept of Capacity" Journal of the Ameri-can Statistical Association, December 1962, vol. 57, pp. 826-84, and Peter Gajewski "Manufacturing CapacityMeasures and Current Economic Analysis," a paper presented at the 1964 American Statistical AssociationMeetings. See also McGraw-Hill surveys on "Business Plans for New Plants and Equipment" for dataon capacity and operating rates.

2 Output as percent of capacity; based on unrounded data.3 Preliminary.Source: Board of Governors of the Federal Reserve System (output) and sources in footnote 1 (capacity

and utilization rate).

231


TABLE B-36.—Mew construction activity, 1929-64[Value put in place, millions of dollars]

Year or month

Totalnewcon-

struc-tion

Private construction

Total i

Total»

Residential building(nonfarm)

Newhous-

ingunits

Addi-tionsand

altera-tions

Nonresidential building and otherconstruction

TotalCom-mer-cial'

In-dus-trial

Publicutil-ity

Other*

Publiccon-

struc-tion

19291930193119321933193419351936193719381939194019411942194319441945 . . .19461946 new series »_1947__ _ -1948 _1949.19501951..19521953...19541955. _19561957 - .1958...1959«I960..19611962...196319647

1963: JanFeb _MarAprMayJuneJulyAugSeptOctNovDec

1964: JanFebMarAprMayJuneJulyAugSeptOctNov 7Dec?

10,7938,7416,4273,5382,8793,7204,2326,4976,9996,9808,1988,682

11,95714,0758,3015,2595,809

12,62714,30820,04126,07826,72233,57535,43536,82839,13641,38046,51947,60149,13950,15355,30553,94155,44759,45362,451

8,307

60,10059,48660,23559,82560,35362,08062,26563,65363,53064,96665,07265,19364,68465,52866,50966,61564,98366,57666,64165,99166,45465,335

3,7681,6761,2311,5091,9992,9813,9033,5604,3895,0546,2063,4151,9792,1863,41110,39612,07716,72221,37420,45326,70926,18026,04927,89429,66834,80434,869

34,69639,23538,07838,29941,69543,77245,893

3,6252,0751,565630470625

1,0101,5651,8751,9902,6802,9853,5101,715885815

1,2764,7526,2479,85013,12812,42818,12615,88115,80316,59418,18721,87720,17819,00619,78924,25121,70621,68024,29225,84326,506

3,0401,5701,320485290380710

1,2101,4751,6202,2702,5603,0401,440710570720

3,3004,7957,76510,50610,04315,55113,20712,85113,41114,93118, 24216,14314,73615,44519,23316,41016,18918,63820,06420,534

340305175105145200250295320295320335375225160220516

1.3071,3071,9602,4672,2002,4002,4842,7672,9162,9603,2963,5883,7693,7114,253

4,6823,8082,2031,046761884989

1,416

1,5701,7092,0692,6961,7001,0941,3712,1355,6445,8306,8728,2468,0258,58310,29910,24611,30011,48112,92714,69116,07414,90714,98416,37216,61917,40317,92919,387

1,1358934542231301732112903872852923484091553356203

1,1531,153957,397,182,415,498,137,7912,2123,2183,6313,5643,5893,9304,1804,6744,9555,2005,635

94953222174176191158266492232254

442801346156208642

1,6891,6891,7021,397972

1,0622,1172,3202,2292,0302,3993,0843,5572,3822,1062,8512,7802,9492,9623,333

1,5781.527946467261

518705605683771872786570725827

1,3741,2552,1262,7762,9943,0453,3573,5333,9733,6853,7704,3614,9084,6884,5214,6214,3354,3184,4944,782

1,020856582282194194257342444448480508614413335382463

1,4281,7332,0872,6762,8773,0613,3273,2563,3073,5543,5403,6154,0454,2484,4274,7204,8305,1815,2735,637


65,709

41,98241,80442,01842,64642,95443,17543,69344,30544,63345,36545,48845,77845,440.46,27446,92346,44945,78046.00646,26145,90645,86145,52145,53145,402

24,87124,80424,91925,27125,63025,78625,84325,75225,95326,58427,000

26,90727,60028,12327,53826,67826,61226,70826,34225,97225,67925,58225,416

19,22019,13519,23419,57119,93220,08820,11619,94420,05920,66021,07320,95421,01021,74822,26221,61020,708120,62820,69320,26819,85619,62219,62019,512

17, 11117,00017,09917,37517,32417,38917,85018,55318,68018,78118,48818,88218,63318,67418,80018,91119,10219,39419,55319,56419,88919,84219,94919,986

,959,928

5,002,946:,848,828

5,0445,4495,6715,5185,4695,5155,4995,5465,6685,5615,5425,5625,5745,6095,7465,7765,7675,639

2,9602,9122,8642.8312,7942,825

1,0053,0493.0853,1363,1583,0603,0583,0743,0763,1493,2043,3343,6053,5143,5403,6553,791

4,090,022,104:,477,542,543,619,7041,540

4,7724,4731,7531,547,647,518

4,6604,7464,8324,8284,6704,9234,9154,9695,009

5,1025,1385,1295,1215,1405,1935,2915,3955,4205,4065,4105,4565,4275,5235,5405,6145,6655,7965,8175,7805,7065,6115,5585,547

2,4862,8582,6591,8621,6482,2112,2333,5163,0963,4203,8093,6285,751

10,6606,3223,0732,3982,2312.2313,3194,7046,2696,8669,255

10,77911,24211,71211,71512,73214,05915,45716,07015,86317,14817,75818,67920,005

18,11817,68218,21717,17917,39918,90518,57219,34818,89719,60119,58419,41519,24419,25419,58620,16619,20320,57020,38020,08520,59319,81420,15520,307

» Data in this table do not agree with the new construction expenditures included in the gross nationalproduct. The latter data include expenditures for crude petroleum and natural gas well drilling, and donot reflect revisions in the "new series" presented above. (See Table B-l.)

> Total includes nonhousekeeping units, not shown separately. Beginning with I960, additions andalterations, also included in total, are not shown separately.

* Office buildings, warehouses, stores, restaurants, and garages.* Farm, institutional, and all other.»New series differs from old in that it reflects differences in 1946 due to the new higher level series of

housing starts and farm construction expenditues and the new reduced level value in place series for PublicUtility construction. See Census Bureau's Construction Report CS0-6t {.Supplement) for a description ofthe differences.

* See footnote 3, Table B-37. 'preliminary.Source: Department of Commerce, Bureau of the Census.

232


TABLE B-37.—New public construction activity, 1929-64

[Value put in place, millions of dollars]

Year

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959 3

19601961 -196219631964 *

Total new public construction»

Allpublicsources

2,486

2,8582,6591,8621,6482,211

2,2333,5163,0963,4203,809

3,6285,751

10,6606,3223,073

2,3982,2313,3194,7046,269

6,8669,255

10,77911,24211,712

11,71512,73214,05915,45716,070

15,86317,14817,75818,67920,005

Federal

Direct

155

209271333516626

814797776717759

1,1823,7519,3135,6092,505

1,737865840

1,1771,488

1,6242,9814,1854,1393,428

2,7692,7262,9743,3873,724

3,6223,8793,7964,0504,134

Federalaid

80

104235111286721

5671,5661,1171,3201,377

946697475268126

99244409417461

454464550700675

739857

1,2692,1062,711

2,2672,4262,5582,9823,320

Stateandlocal

2,251

2,5452,1531,418

846864

8521,1531,2031,3831,673

1,5001,303

872445442

5621,1222,0703,1104,320

4,7885,8106,0446,4037,609

8,2079,1499,8169,9649,635

9,97410,84311,40411,64712,551

Major types of new public construction

High-way

1,266

1,5161,355

958847

1,000

8451,3621,2261,4211,381

1,3021,066

734446362

398764

1,3441,6612,015

2,1342,3552,6773,0213,714

3,8524,4154,9345,5455,761

5,4375,8546,3786,6706,946

Educa-tional

389

36428513052

148

153366253311468

1561581286341

59101287618934

1,1331,5131,6191,7142,134

2,4422,5562,8252,8752,656

2,8183,0522,9843,0433,338

Hos-pitaland

institu-tional

101

118110834951

38747397

127

5442354458

858577

213458

499527495369333

300300354390428

401369397454520

Sewerand

waterand

miscel-laneouspublicservice

404

500479291160228

246509445492507

469393254156125

152278492699803

819959958

1,0501,171

1,3181,6591,7371,8382,018

2,1362,1682,2322,4302,774

Con-serva-tionandde-

velop-ment

115

137156150359518

700658605551570

528500357285163

130260424670852

942912900892773

701826971

1,0191,121

1,1751,3841,4601,5531,616

Mili-tary

facili-ties

19

2940343647

37293762

125

3851,6205,0162,550

837

690188204158137

177887

1,3871,2901,003

1,2871,3601,2871,4021,465

1,3661,3711,222(8)(5)

Allother

public *

192

194234216145219

214518457486631

7341,9724,1362,7781,487

884555491685

1,070

1,1622,1022,7432,9062,584

1,8151,6161,9512,3882,621

2,5302,9503,0853,2063,510

1 For expenditures classified by ownership, combine "Federal aid" and "State and local" columns toobtain State and local ownership. "Direct" column stands as it is for Federal ownership.

* Includes nonresidential buildings (other than educational and hospital and institutional), residentialbuildings, and miscellaneous public construction such as parks and playgrounds, memorials, etc.

* Beginning with 1959, data include estimates for Alaska and Hawaii. Comparability with earlier datais not seriously affected since these two States accounted for less than two-thirds of one percent of total newpublic construction in 1959.

4 Preliminary.* Data for 1963 and 1964 military facilities are not available separately but estimates are included in

totals.


233


TABLE B-38.—New housing starts and applications for financing, 1929-64

[Thousands of units]

Year ormonth

1929 . . .

193019311932.19331934

19351936193719381939 - -

1940194119421943.1944

New Series19451946194719481949

1950__1951195219531954

19551956195719581959

196019611962196319645

Housing starts

Totalprivate

andpublic

(in-elud-ing

farm)*

1,553. 5

1,296.01,365.01,492.41,640.91,575.7

Totalprivate

(In-clud-ing

farm)

1,516.8

1, 252.11,313.01,462.81,609. 21,543.9

Pri-vateand

publicnon-farm

509.0

330.0254.0134.093.0

126.0

221.0319.0336.0406.0515.0

602.6706.1356.0191.0141.8

326.11,023.21,268.51,362.11,466.1

1,951.91,491.01,503.91,437.61,550. 5

1,646.01,349.11,223.91,382.01,531.3

1,274.01,336.81,468.71,613. 41,548.7

Private nonfarm

TotaP

509.0

330.0254.0134.093.0

126.0

215.7304.2332.4399.3458.4

529.6619.5301.2183.7138.7

324.91,015.21,265.11,344.01,429.8

1,908.11,419.81,445. 41,402.11,531.8

1,626.61,324.91,174.81,314. 21,494.6

1,230.11,284.81,439.11,581. 71,516.9

One-family

316.0

227.0187.0118.076.0

109.0

182.2238.5265.8316.4373.0

447.6533.2252.3136.3114.6

1,211.9

972.3946.4967.8993.2945.9

Twoor

morefami-lies

193.0

103.067.016.017.017.0

33.565.766.682.985.4

82.086.348.947.424.1

282.7

257.8338.4471.3588.5571.0

Totalprivate

elud-ing

farm)

1,516. 8

1,252.11,313.01,462. 81,609.21,543.9

Private nonfarm

Total

509.0

330.0254.0134.093.0

126.0

215.7304.2332.4399.3458.4

529.6619.5301.2183.7138.7

324.91,015.21.265.11,344.01,429.8

1,908.11.419.81,445.41,402.11,531. 8

1,626.61,324.91,174. 81,314. 21,494.6

1,230.11,284.81,439.11,581. 71,516.9

Govern-ment homeprograms

FHA

13.248.857.0

106.8144.7

176.6217.1160.2126.183.6

38.967.1

178.3216.4252.6

328.2186.9229.1216.5250.9

268.7183.4150.1270.3307.0

225.7198.8197.3166.2154.0

VA

------

<8.891.8

160.371.190.8

191.2148.6141.3156.5307.0

392.9270.7128.3102.1109.3

74.683.377.871.059.2

Newprivatehous-

ingunitsau-

thor-ized

---------

1,208.3

998.01,064. 21,186.6

«1,334. 781,273.8

Proposedhome con-struction *

Ap-plica-tionsfor

FHAcom-mit-

ments

•20.647.849.8

131.1179.8

231.2288.5238.5144.462.9

56.6121.7286.4293.2327.0

397.7192.8267.9253.7338.6

306.2197.7198.8341.7369.7

242.4243.8221.1190.2182.1

Re-quests

forVAap-

prais-als

164.4226.3251.4535.4

620.8401.5159.4234.2234.0

142.9177.8171. 2139.3113.6


234Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE B-38.—New housing starts and applications for financing, 1929-64—Continued

[Thousands of units]

Year ormonth

1963: JanF e b . . . .Mar. . . .AprM a y . . .J u n e . . .

July. . . .Aug.. . .Sept . . .OctNovDec

1964: JanF e b . . . .Mar. . . .

MPay_~_"J u n e . . .

July. . . .Aug.. . .Sept-__OctNov s_.Dec«...

Housing starts

Totalprivate

andpublic

(in-clud-ing

farm) i

81.890.8

128.5166.4176.3158.1

153.5149.9148.4167.5122.397.4

100.8101.1133.3152.3160.5164.0

145.1144.8126.0143.1111.493.3

Totalprivate

(in-clud-ing

farm)

79.089.6

124.8164.2172.7154.2

151.3146.3146.4164.5120.595.7

-99.6100.3130.1148.5157.5158.5

142.7141.6122.6141.0109.492.1

Pri-vateand

publicnon-farm

80.789.2

126.8163.6173.2156.3

151.9147.5145.2164.2119.795.1

99.598.5

131.5149.5158.2161.3

142.8142.2123.9140.6109.391.4

Private nonfarm

Total*

77.988.0

123.1161.4169.6152.4

149.7143.9143.2161.2117.993.4

98.397.7

128.3145.7155.2155.8

140.4139.0120.5138.5107.390.2

One-iamiiy

43.951.978.1

107.2109.399.9

97.495.590.8

100.969.748.6

53.861.180.487.898.999.2

89.487.677.487.966.855.6

Twoor

morefami-lies

34.036.145.054.260.352.5

52.348.452.460.348.244.8

44.536.647.957.956.356.6

51.051.443.150.540.534.6

Totalprivate

(in-clud-ing

farm)

Private nonfarm

Total

Govern-ment homeprograms

F H A VA

Newprivatehous-ing

unitsau-

thor-ized

Proposedhome con-struction *

Ap-plica-tionsfor

F H Acom-mit-

ments

JtvtJ-

Questsfor

XT AV Aap-

prais-als


1,3141,4451,5771,6781,6791,575

1,5991,4751,7471,8641,5771,570

1,7181,6571,6631,5311,5291,611

1,5051,4301,4571.5911,4301,541

1,2871,4181,5511,6561,6511,558

1,5841,4541,7121,8241,5441,524

1,6881,6131,6381,5011,5071,585

1,4831,4081,4331,5591,4041,502

172164173176180179

164151159158153157

158192165146174152

145142136146152151

747873837972

726362626773

758368606160

565252505753

1,2671,2261,2791,2871,3601,352

1,3201,2861,3711,4011,3591,402

1,3331,4041,3771,280]L, 271L,306

1,2421,281L,2221,220L72581,154

203197197251160195

182172173176190183

178193190190173177

162176174183194193

161150152119152123

122133140140145159

13813512411199

103

10988

121112118118

1 Military housing starts, including those financed with mortgages insured by FHA under Section 803of the National Housing Act, are included in publicly financed starts but excluded from total privatestarts and from FHA starts.

* Units in mortgage applications or appraisal requests for new home construction.1 FHA program approved in June 1934; all 1934 activity included in 1935.* Monthly estimates for September 1945-May 1950 were prepare*. . . . . . . . . . . . epared by Housing and Home Finance Agency.• Preliminary; data for 1964 partly estimated by Council of Economic Advisers.• Data for 1963 and 1964 cover approximately 12,000 permit-issuing places. Data for 1959-62 are based

on reports from approximately 10,000 places. In 1963, the additional 2,000 permit-issuing places accountedfor almost 50,000 new privately owned housing unit authorizations.

NOTE.—Census series beginning 1945 include Alaska and Hawaii. FHA and VA data includeAlaska, Hawaii, and Puerto Rico.

Census data for 1945-58 have been revised for comparability with subsequent data. One-family andtwo-family series have not been revised. See Housing Starts C20-60, Map 1964.

Detail may not necessarily add to totals because of rounding.

Sources: Department of Commerce, Federal Housing Administration (FHA), and Veterans Adminis-tration (VA), except as noted.

235


TABLE B-39.—Business expenditures for new plant and equipment, 1939 and 1945-65


Year or quarter Total i

Manufacturing

TotalDura-

blegoods

Non-durablegoods

Mining

Transportation

Rail-road Other

Publicutili-

Com-mer-cialand

other >

1945—1946—1947—1948—1949—

19601951—1952—1953—1954—

1955—1956—1957—1958—1959—

1960—1961—1962—1963—1964 ».

1962: I.._.II...III..IV..

1963: I—.II...III..IV..

1964: I—.II—III..IV»

1965: I s__.II».

5.51

14,8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0836.9630.5332.54

&5.6834.3737 3139.2244.66

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9515.9611.4312.07

14.4813.6814.6815.6918.51

0.76

1.593.113.413.482.59

3.145.175.615.655.09

5.447.628.025.475.77

7.186.277.037.859.35

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.337.945.966.29

7.307.407.6*7.849.16

0.33

.38

.43

.79

.71

.93

.98

.99

.98

.961.241.24.94

.99

.981.081.041.18

0.28

.55

.58

.891.321.35

1.111.471.401.31.85

.921.231.40.75.92

1.03.67.85

1.101.46

0.36

.57

.921.301.28

1.211.491.501.561.51

1.601.711.771.502.02

1.941.852.071.922.31


35.7036.9538.3537.95

36.9538.0540.0041.20

42.5543.5045.6546.70

47.9048.70

14.2014.4515.0515.00

14.8515.3015.9516.45

17.4017.8018.8519.75

20.4020.70

6.556.957.257.30

7.357.658.008.30

8.859.009.609.80

10.15

7.607.507.807.70

7.507.658.008.15

8.558.809.209.95

10.25

1.151.051.101.00

1.051.001.051.05

1.151.151.201.25

1.25

0 70.95

1.00.80

.901.001.201.35

1.401.251.501.75

1.70

2.052.252.001.90

1.702.051.652.10

2.302.252.402.30

2.35

27.95

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.206.095.67

5.685.525.485.656.14

6.155.405.755.45

5.205.455.905.80

5.956.306.306.00

6.40

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510.409.81

10.88

11.5711.6813.1513.8215.06

12.4512.9013.4513.80

13.2013.3014.0514.50

14.3014.7515.4015.55

15.80

i Excludes agriculture.* Commercial and other includes trade, service, finance, communications, and construction.»Estimates based on anticipated capital expenditures reported by business in November 1964. The

quarterly anticipations include adjustments, when necessary, for systematic tendencies in anticipatory data.NOTE.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with the

average of seasonally adjusted figures.These figures do not agree precisely with the plant and equipment expenditures included in the gross

national product estimates of the Department of Commerce. The main difference lies in the inclusionin the gross national product of investment by farmers, professionals, institutions, real estate firms,and of certain outlays charged to current account.

These series are not available for years prior to 1939 and for 1940 to 1944.Sources: Securities and Exchange Commission and Department of Commerce (Office of Business

Economics).

236


TABLE B-40.—Sales and inventories in manufacturing and trade, 1947-64

[Amounts in millions of dollars]

Year or month

Total manufactur-ing and trade

Sales i Inven-tories* Ratio*

Manufacturing

Sales i Inven-tories' Ratio'

Merchantwholesalers

Sales i Inven-tories' Ratio >

Retail trade

Sales» Inven-tories' Ratio'

1947..1948..1949..

1950..1951..1952..1953..1954..

1955...1956...1957...1958*..1959...

I960"—1961 «...1962....1963-...1964 7 8.

1963:Jan...Feb. .Mar..Apr..May-June..

July..Aug..Sept..Oct ..Nov..D e c .

1964:Jan._.Feb. .Mar..

MPay"."J u n e . .

July..Aug..Sept..Oct._.Nov..Dec8.

33,788

38,59643,35644,84047,98746,443

51,69454,06355,87854,23259,583

60,53060.74765,078

52,50749,497

59,82270,24272,37776,12273,175

79,51687,30489,05286,92291,964

94.61095,576100, 271

68,002 .10 \ 12772,634,107,995

1.391.53

1.361.551.581.581.60

1.471.551.591.601.51

1.561.551.511.501.47

15,51318.04516,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,28030,219

30.79630,88433,30834,77437,100

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,07052, 707

53,81455,08757,75360,14762,287

.50..74

4866797681

.62

.73

.801.841.70

1.761.741.701.691.64

6,8086,514

7,6958,5978,7829,052

7,9577,706

9,284

9,89310,51310,47510,25711,413

11,44011,62912,15812,69213,734

10,21010,68610,637

11.67813,26012.73012; 73913,952

13,98314,25114,58015, 59716,360

1.131.19

0716121718

1319232417

2321191817

10,20011,13511,149

12,26813,04613,52914,09114,095

15,32115,81116,667

17,951

18,29418,23419,61320. 53S21,800

14,24116,00715,470

19,46021,05021,03121,48820,926

22,76923,40224,45124,11325; 305

26,81326,23827,93829,33329,348

Seasonally adjusted

66,076 100,52967,002 100,74067,066100,98667,452 101,36967,545 101,59867,983,102,026

69,244102,52368,250 102,67268,029 103,14068,884 103,731

72,13173,451

68,338 104,52970,026 105,127

70,992 105,43271,013 105,42870,649 105,72171,787 106,37172,660 106, 50772,187 106,621

73,693 106,63473,204 106,71673; 358 107,323

107,320107,995

1.621.501.511.501.501.50

1.481.501.521.511.531.50

1.491.481.501.481.471.48

1.451.461.461.491.47

33,54234,1H34,24434,57834,83634,942

35,64134,73634,67235,21435,00436,021

36,677

36,222

57,88358,02158,12658,30958,50758,706

58,88458,91759,08759,32259,78060,147

60,00660,12360,326

37,1671 60,53137,186 60,52836,791

37,96337,16837,31236,81137,575

60,48860,76361,01961,77762,287

1.65.70.70.681.71.67

.641.681.66

12,14712,51412,47212,59812, £0912,555

12,88412,84812,93112,95412,77612,986

13,31513,24513,20413,22813,69713,623

13,79513,77013,79213,93714,245

14,58614,58114,62914,78114,75514,863

14,99115,14015,30115,48815,49515,597

15,81815,71915,73415,87916,05316,043

16,01715,98616,22216,27616,360

1.201.161.171.171.181.18

1.161.181.181.201.211.20

1.191.191.191.201.171.18

1.161.161.181.171.15

20,38720,37420,35020,27620,20020,486

20,71920,66620,42620,71620,55821,019

21,00021,53321,22321,39221,77721,773

21,93522,26622,25421,38321,63122,808

28,06028,13828,23128,279

28,457

28,64828,61528,75228,92129,25429,383

29,60829,58629,66129,96129,92630,180

30,12929,96730,08229,26729,348

1.261.391.41

1.381.641.521.531.51

1.431.471.441.431.40

1.451.431.381 391.36

1.381.381.391.391.401.39

1.381.381.411.401.421.40

1.411.371.401.401.371.39

1.371.351.351.371.36

1 Monthly average shown for year and total for month.* Seasonally adjusted, end of period.8 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly

sales; for monthly data, ratio of inventories at end of month to sales for month.* Beginning 1958, manufacturing sales and inventories include data for Alaska and Hawaii.* Beginning 1960, retail sales and inventories include data for Alaska and Hawaii.8 Beginning 1961, merchant wholesalers' sales and inventories include data for Alaska and Hawaii.* Where December data not available, data for year calculated on basis of no change from November.8 Preliminary.

NOTE.-—The inventory figures in this table do not agree with the estimates of change in business inven-tories included in the gross national product since these figures cover only manufacturing and trade ratherthan all business, and show inventories in terms of current book value without adjustment for revaluation.

Source: Department of Commerce (Office of Business Economics and Bureau of the Census).

•757-981 O—«5 16 237


TABLE B-41.—Manufacturers1 shipments and inventories, 7947-64

[Millions of dollars]

Year or month

1947.1948.1949.

1950..1951-1952..1953..1954..

1955..1956..1957..1958..1959.

I960—1961...1962...1963...1964 3.

1963: J a n . .Feb. .Mar_.Apr..May.June.

July. .Aug..Sept.Oct . .Nov..Dec._

1964: JanFebMarAprMayJune

JulyAugSeptOctNov*Dec*

Shipments *

Total

Dur-able

goodsindus-

tries

5,5138,0456,126

18,63421,71422,52924,84323,355

26,48027,74028, 73627,28030, 219

30,79630,88433,30834,77437,100

8,3087,191

8,84510,49311,31313,34911,828

14,07114,71515,23713,57215,544

15,81715, 53217,18418,07119,200

Non-durablegoodsindus-tries

Inventoriesa

Total

8,817 25,8979,738 28,5438,935 26,321

13,06114,66213,060

9,789 31,078 15, 53911,22139,306 20,11,216 41,13611,494 43,948 25,87811,527 41,61

12,409 45,069 26,13,025 50,64r "13,499 51,871

32,36015; 352 55,087 32,64614,979 53,81415,352 55, "~16,124 57,

17^900 62; 28'

i, 40530,447

. .31,72813,708 50,070 30,09514,675 52,707 31,839

Durable goods

Total

1,99123,731

23,710

34,32636,02837,938

Mate-rialsandsup-plies

Workin

process

8,9667,894

9,19410,41710,6089,84710,585

10,28610,23410, 57110,87911,399

10,7209,721

10,75612,31712,83712,29412,952

12,78013,22514,12914,85715,812

Fin-ishedgoods

6,040

7,565

8,143

Nondurable goods

Total

12,83613,88113,261

15,53918,31517,405

6,206 18,07017,902

6,348 18,66420,195

8,125 20,1437,749 19,975

20,868

9,1909,088 22,4419, 593 23,42710, 292 24,11910,727 24,349

21,454"!,441

1,427

Mate-rialsandsup-

8,3178,16:

8,5568,9718,7758,6719,089

9,1139,5119,7709,7699,653

Workin

2,4722,440

2,5712,7212,8642,8002,928

2,9353,1203,3043,4793,494

Fin-ishedgoods

7,4097,415

7,6668,6228,6248,4988,857

9,3539,70710,24610,87111,202

Seasonally adjusted

33,54234,11434,24434,57834,83634,942

35,64134,73634,67235,21435,00436,021

36,67736,23536,22237.16737,18636,791

37,96337.16837,31236,81137,575

17,30117,63617,62217,89218,11218,242

18,74618,16017,93718,59018,27218,476

19,14419,02718,88719,35919,13819,023

19,86119,16419,28418,63319,34520,407

16,24157,883 34,39016,478 58,021 34,49616,622 58,126 34,59316,686 58,309 34,78716,724 58,507 3416,700 58,706 35,

16,895 58,884 35,34616,576 58,917 35,50716,735 59,087 35,53616,624159,322 35,58116,732'59,780 35,70417,545 60,147 36,028

17, 533 60,006 35,97017, 208 60,123 35,96017,335 60,326 36,07917,808 60,531 36, 27718,048 60,528 36,30017,768 60,398 36,492

18,102 60,488 36,59718,00460,763 36,79018,028 61,019 37, '18,178 61, 777 37,18,230 62,287 37

Q62

,156

10,55210,56110,57110,65210,65510,755

10,80110,98810,91710,87810,88010,879

10.82710, 79210,81710,83010.82810,866

10,87010,91711,07211, 27711,399

14,19414,22614,26714,38014,53014,569

14,71614,57714,57914, 63914,64814,857

14,83314,88015,00115,11215,12715,211

15,32515,44215,49715,62215,812

9,644 23,4939,709 23,5259,755 23,5339,755 23,5229,777 23,5459,832 23,550

9,829 23,5389,942 23,41010,040 23,55110,064 23,74110,176:24,07610,292 24,119

10, 310 24,03610, 288 24,163

24,24710; 335 24,25410,345 24,228

10,26110,33510,34510,415 23,906

10,402 23,89110,43123,97310,468 23,98210, 618 24, 26010,727 24,349

9,8429,8649,8359,8279,7969,752

9,6649,6219,6609,8449,8269,769

9,6669,6619,6329,5349,5289,432

9,2939,3519,4129,5659,653

3,4113,4113,4093,4043,4163,352

3,3623,3343,3473,3443,4283,470

3,4523,4033,4463,4593,4523,422

3,4063,4263,4573,5083,494

10,24010,25010,28910,29110,33310,446

10,51210,45510,54410,55310,82210,871

10,91811,09911,16911,26111,24811,052

11,19211,19611,11311,18711,202

1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.* Preliminary estimates.* Preliminary.

NOTE.-—Data for Alaska and Hawaii included beginning 1958.


238


TABLE B-42.—Manufacturers* new and unfilled orders, 1947-64


Year or month

New orders l

Total

Durable goods

Total

Machin-ery andequip-ment

Non-durable

goods

Unfilled orders *

Total Durablegoods

Non-durable

goods

1947-1948-.1949..

1950-1951-1952..1953..1954..

1955..1956-1957-1958-1959-

1960..1961..1962-1963-1964 3

1963: Jan. . .F e b . .Mar. .Apr . .May_June..

July. .Aug..Sept..Oct...N o v -Dec_.

1964: Jan . . .Feb- .Mar. .

May."June..

July. .Aug..Sept..

Nov«.Dec «_.

15,25617,69215,614

20,11023,90723,20323,53322,313

27,423

27,51426,90130,679

30,11531,06133,16735,03637,700

34,74234,63635,36435,75235,43834,425

35,20734,93034,99135,35434,95335,619

37,14836,65736,54738,18437,89337,782

39,31537,50938,01837,84637,682

8,126

10,16512,84112,06112,10510,743

14,95415,38114,07313,17015,951

15,22315,66417,08518,30019,800

2,0841,770

2,4992,8702,5662,3542,878

2,7912,8543,0903,3263,700

9,5668,981

9,94511,06611,14211,42811,570

12,46913,00213,44113,73114,728

14,89215,39716,08216,73617,900

34,26630,55223,877

41,16666,86275,47860,34648,195

60,04467,47353,25148,78554,101

45,82047,86846,24249,14955,500

28,37926,45919,504

35,22263,07772,31757,85445,233

64,06750,46445,70950,428

43,18744,81843,66646,19352,600

Seasonally adjusted

18,46618,22818,77619,03718,73617,682

18,27518,06018,24418,62218,11317,974

19,74019,49919,26220,46119,94520,016

21,25419,34219,90719,62319,42020,309

3,2543,2063,2173,3513,4163,292

3,3343,3073,4153,4413,2733,612

3,6173,4133,4553,6103,9293,916

3,7743,7723,6863,7863,8953,867

16,27616,40816,58816,71516,70216,743

16,93216,87016,74716,73216,84017,645

17,40817,15817,28517,72317,94817,766

18,06118,16718, 11118,22318,262

47,80948,42449,35350,24650,56550,052

49,54249,55249,98250,14050,13249,796

50,08350,58650,69751,67952,00452,833

54,07554,21655,04256,06756,270

45,05745,73646,68147,53047,86447,285

46,74546,69547,07047,16947,07646,676

47,07247,64447,80548,84049,22550,037

51,30251,36652,13553,13753,32353,522

5,8874,0934,373

5,9443,7853,1612,4922,962

3,6753,4062,7873,0763,673

2,6333,0502,5762,9562,900

2,752'2,6882,6722,7162,7012,767

2,7972,8572,9122,9713,0563,120

3,0112,9422,8922,8392,7792,796

2,7732,8502,9072,9302,947

1 Monthly average for year and total for month.3 End of period.' Preliminary estimates.

* Preliminary.



239


PRICES

T A B L E B—43.—Wholesale price indexes by major commodity groups, 1929—64

[1957-59=100]

Year or month

1929

193019311932 _19331934

19351936193719381939

19401941194219431944 .

19451946194719481949

1950 . .19511952 .19531954

19551956 ._ .195719581959

1960 . .1961196219631964 2

1963: JanFebMarApr. . .MayJune-

JulyAugSept _OctNovDec

1964: JanFebMar .AprMayJune.- --. ._-

JulyAugSeptOct..NovDec 2

Allcom-modi-

ties

52.1

47.339.935.636.141.0

43.844.247.243.042.2

43.047.854.056.556.9

57.966.181.287.983.5

86.896.794.092.792.9

93.296.299.0

100.4100.6

100.7100.3100.6100.3100.5

100.5100.299.999.7

100.0100.3

100.6100 4100.3100.5100.7100.3

101.0100.5100.4100.3100.1100.0

100.4100.3100.7100.8100.7100.8

Farmprod-ucts

63.9

54.039.629.431.339.9

48.049.452.741.939.9

41.350.164.674.875.3

78.390.6

109.1117.1101.3

106.4123.8116.8105.9104.4

97.996.699.2

103.697.2

96.996.097.795.794.3

98.596.595.495.494.494.9

96.896.395.595.196.293.3

96.394.595.294.493.793.2

94.193.695.793.894.092.8

Proc-essedfoods

54.3

49.541.633.933. 739.6

48.346.448.642.340.2

40.446.754.857.256.0

56.471.791.198.488.8

92.6103.3100.997.097.6

94.394.397.9

102.999.2

100.0100.7101.2101.1101.0

100.8100.599.099.3

101.7102.4

102.2100.9100.9102.2102.5100.4

102.5100.9100.5100.499.4

100.2

101.2101.0102.2101.7100.9100.8

All commodities other than farm productsand foods (industrials)

Total

51.7

48.142.439.740.244.2

44.044.948.146.146.0

46.850.353.954.755.6

56.361.775.381.780.0

82.991.589.490.190.4

92.496.599.299.5

101.3

101.3100.81008100.7101.2

100.71006100.6100.4100.5100.7

100.8100.8100.7100.9100.9101.2

101.3101.2101.1101.1101.1100.9

101.1101.1101.1101.5101.6101.8

Textileprod-uctsand

apparel

67.8

60.349.841.248.654.7

53.353.757.350.152.3

55.463.772.873.173.9

75.187.3

105.7110.3100.9

104.8116.9105.5102.8100.6

100.7100.7100.898.9

100.4

101.599.7

100.6100.5101.2

100 4100.3100.2100.1100.2100.3

100.4100.4100. 5100.7101.1101.2

101.2101.2101.2101.1101.2101.0

101.1101.2101.2101.4101.4101.5

Chemi-calsand

alliedprod-ucts

0)

0)(i)0)46.648.8

50.951.253.651.050.7

51.656.162.363.163.8

64.269.492.294.486.2

87.5100.195 096 197.3

96.997.599.6

100.4100.0

100.299.197.596.396.7

96.996.796 896.396.496.3

96.096.096 096.296.396.2

96.396.496.596.696.796.5

96.696.596.696.997.197.2

Rubberand

rubberprod-ucts

57.6

50.442 837.139.045.5

45.849.458.157.159.3

55.359.669.471.370.4

68.368 668.370.568.3

83.2102.192.586 387.6

99.2100.6100.2100.199.7

99.996.193.393.892.5

94.394.294.194.193.293.1

93.093 793.494.294.293.8

93.793.693.993.192.691.6

91.891.891.992.192.292.1

Lumberand

woodprod-ucts

26.4

24.119.616.920.023.5

22.623.627.925.426.1

28.934.537.539.742.8

43.449.777.488.581.9

94.1102.599.599.497.6

102.3103.898.597.4

104.1

100.495.996.598.6

100.6

95.996.196.597.097.598.3

101.6102.699.999.299.299.1

99.099.9

101.0101.8101.8101.4

101.2100.9100.6100.399.699.4


24O


TABLE B-43.— Wholesale price indexes by major commodity groups, 1929-64—Continued

[1957-59-100]

Year or month

1929

19301931193219331934

1935.1936193719381939

19401941194219431944...

19451946194719481949

19501951195219531954

19551956195719581959

19601961 _.1962-.-—.1963 -1964 2 - - — -1963: Jan'..!

Feb...Mar...A p r -May..June..

July..Aug...Sept-Oct—Nov..D e c .

1964: Jan...F e b -Mar._Apr-May.June.

July..Aug_.Sept..Oct..Nov..Dec 2.

All commodities other than farm products and foods (industrials)—continued

Hides,skins,

leather,and

leatherprod-ucts

56.652.044.738.042.044.9

46.549.554.348.249.6

52.356.161.161.060.5

61.370.796.597.592.5

99.9114.892.894.1

89.594.894.996.0

109.1

105.2106.2107.4104.2104.6106.0105.1105.1104.5104.8104.5

104.3103.6103.1103.4103.5103.0102.7102.5102.5104.5104.7104.8

105.4105.6105.4106.0105.5105.4

Fuelsand

relatedprod-ucts,and

power

61.5

58.250.052.149.354.3

54.556.557.556.654.2

53.256.658.259.961.6

62.366.779.793.8

90.293.593.395.994.6

94.597.4102.798.798.7

99.6100.7100.299.897.1

100.4100.3100.8100.3100.4100.9

100.498.999.098.897.999.399.599.097.096.196.4

96.796.495.296.797.698.2

Pulp,paper,and

alliedprod-ucts

Metalsand

metalprod-ucts

44.139.735.732.833.637.1

37.037.843.241.641.2

41.442.242.842.742.7

43.448.560.268.569.0

72.780.981.083.684.3

90.097.899 799.1

101.2

101.3100.7100.0100.1102.899.599.499.499.499.9

100.0

100.0100.1100.3100.9101.0101.3101.7101.8102.0102.2102.1102.3

102.5103.0103.0103.8104.3104.7

Machin-ery andmotiveprod-ucts

43.7

44.245.847.747.447.4

47.853.661.867.571.2

72.679.581.282.283.2

85.892.197.7

100.1102.2

102.4102.3102.3102.2102.9102.3102.2102.0101.9102.0102.0

102.1102.1102.2102.3102.5102.6102.5102.5102.7102.9103.3103.0

103.1102.9102.9103.0103.2103.1

Furni-tureand

otherhouse-holddura-bles

56.4

55.551.145.045.149.0

48.649.354.753.453.2

54.457.862.562.163.8

63.967.877.882.583.8

85.692.891.192.993.9

94.396 999.4

100.2100 4

100.199.598.898.198.5

98.298.298.198.098.1

98.098.198.198.19H.198.098.498.598.598.698.698.5

98.698.598.598.5

Nonme-tallic

mineralprod-ucts

Tobaccoproducts

andbottledbever-ages

53.4

53.249.746.549.252.6

52.652.753.952.251.2

51.262.454.554.755.8

58.161.869.174.776.7

78.683.583.586.988.8

91.395.298.999.9

101.2

101.4101.8101.8101.3101.5101.4101.5101.5101.5101.3101.2100.9101.0101.1101.3101.2101.3101.1101.2101.1101.3101.3101.4

101.5101.7101.8101.8101.8101.8

67.4

67.867.263.356.659.2

59.159.059.559.459.4

60.160.861.564.664.9

66.769.875.678.279.6

80.585.187.089.893.8

94-695.198.099.7

102 2

102.5103. 2104.1106.1107.4104.3104.3104.3104.4105.2105.8

107.5107.5107.5107.5107.5107.5107.6107.1107.1107.1107.3107.4

107.3107.5107.5107.6107.5107.5

Miscel-laneous

prod-ucts

0)(0

888

0)0)0)0)0)0)

111.2103.5

104.1113.1116.7105. 4110.5

99.198.196.6

101.5101.9

99.3103.9107.3110.4109.2111.6111.5110.8108.0107.6108.1

110.4111.1111.8111.2110.9112.2112.6110.9109.8109.5107.2106.7

107.5107.3109.2110.1108.5110.7

1 Not available.2 Preliminary.Source: Department of Labor, Bureau of Labor Statistics.

241


TABLE B-44.— Wholesale price indexes, by stage of processing, 1947-64

[1957-59=100]

Year ormonth

194719481949

195019511952 . .19531954

195519561957 „ .19581959

19601961 .196219631964 <

1963: JanFebMarAprMayJune____JulyAugSeptOctNovDec

1964: JanFebMarAprMay.__-JuneJulyAugSept.—OctNovDec*—_

Allcom-modi-

ties

81.287.983.5

86.896.794.092.792.9

93.296.299.0

100.4100.6

100.7100.3100.6100.3100.5

100.5100.299.999.7

100.0100.3100.6100.4100.3100.5100.7100.3

101.0100.5100.4100.3100.1100.0

100.4100.3100.7100.8100.7100.8

Crude materials

Total

100.8110.595.6

104.2119.6109.9101.5100.6

96.797.299.4

101.699.0

96.696.197.195.094.1

96.895.694.595.094.294.8

96.195.794.894.895.192.6

95.194.094.394.293.592.4

93.894.195.794.394.094.0

Food-stuffsandfeed-stuffs

113.0122.2101.5

108.9126.0118.6106.2106.2

96.294.298.4

104 297.4

96.294.996.894.091.9

97.194.792.893.992.893.7

96.195.494.093.894.290.1

94.092.292.592.191.389.6

91.591.794.491.891.090.7

Non-foodma-

terials,except

fuel

86.596.287.5

100.0115.399.995.693.8

99.1102.8101.497.6

101.0

96.897.997.496.297.8

95.896.496.796.596.696.4

95.995.695.696.196.196.3

96.696.697.197.997.397.5

97.597.997.798.599.199.6

Fuel

73.687.086.5

86.187.788.391.487.3

87.193.398.699.8

101.6

102.5102.3101.8103.0102.5

103.3105.6105.4102.3100.5101.0

101.9102.0102.9103.3103.7104.6

104.5105.1103.2101.099.999.8

101.7102.3101.9102.7103.8104.7

Intermediate materials, supplies, and components *

Total

76.582.779.4

83.093.090.390.891.3

93.097.199.499.6

101.0

101.0100.3100.2100.5100.9

100.2100.1100.099.9

100.5100.6

100.6100.5100.5100.9101.0101.1

101.3101.2100.9100.9100.6100.3

100.5100.4100.6101.1101.1101.4

Materials and components for

Total

75.581.578.0

81.892.788.890.290.4

92.696.999.399.7

101.0

101.099.899.299.4

100.4

98.898.798.698.899.799.7

99.499.199.1

100.1100.4100.2

100.6100.4100.4100.4100.2100.0

100.0100.1100.2100.8101.0101.2

manufacturing

Ma-terials

forfood

manu-factur-

ing

102.6105.891.0

94.7105.5101.4101.6100.7

97.597.999.7

102.098.3

99.5102.6100.5105. 5105.1

101.0101.2101.2103.5110.2109.8

106.4102.9103.7108.8110.6107.1

110 2107.2105. 5105.3103.6102. 7

103.1103.1103.8104.8106.4106.1

Ma-terials

fornon-du-

rablemanu-factur-

ing

94.099.590.7

95.2110.399.398.596.9

97.398.8

100.199.1

100.8

100.898.698.097.197.8

97.397.297.197.197.197.0

96.896.696.697.297.497.5

97.697.697.897.897.897.6

97.697.597.698.098.298.3

Ma-terials

fordu-

rablemanu-factur-

ing

58.866.468.2

72.180.180.383.985.7

90.095.798.899.5

101.8

101.9100.5100.4100.5102.5

100.099.899.799.6

100.1100.4

100.8101.0100.8101.3101.4101.6

101.8101.9102.3102.4102.3102.3

102.4102.5102.5103.2103.3103.4

Compo-

nentsfor

manu-factur-

ing

63.068.069.3

71.981.681 883.383.7

87.495.499.199.9

101.1

100.699.698.898.899.7

98.698.598.298.298.698.7

98.698.799.099.239.499.6

99 599.699.799.999.999.4

99.399.399.4

100.0100.3100.5

Ma-terialsandcom-po-

nentsfor

con-struc-tion

69.677.077.2

81.288.888.289.790.1

93.798.599.199.1

101.8

101.199.799.399.6

100.6

98.898.998.999.099.299.4

100.1100.499.8

100.0100.0100.1

100.1100.3100.4100.7100.7100.6

100.6100.6100.6100.7100.7100.7


242


T A B L E B - 4 4 . — Wholesale price indexes, by stage of processing, 7947-64—Continued

[1957-59= 100]

Year or month

Finished goods

Total

Consumer finished goods

Total FoodsOthernon-

durablegoods

Tu-rablegoods

Pro-ducer

finishedgoods

Special groups of Industrialproducts

Crudemate*rials'

Inter-mediate

materials,supplies,and com-ponents'

Con-sumer

finishedgoods ex-

cludingfoods

1947...1948...1949-

1950-1951-1952-1953-1954-

1955-1956-1957-1958-1959-

1960—1961—1962—1963...1964 <__

1963: J a n . . .F e b . .Mar . .Apr. .M a y .J u n e .

Ju ly . .A u g . .Sept. .Oct. . .NTov..Dec-

Jan...Feb..Mar..Apr..May.June..

1964

July . .Aug . .Sept. .Oct . . .Nov . .Dec «_.

80.186.484.0

85.593.693.092.192.3

92.595.198.6

100.8100.6

101.4101.4101.7101.4101.8

101.8101.5101.1100.8101.1101.5

101.8101.4101.5101.6101.8101.4

102.1101.6101.5101.3101.3101.7

102.1101.9102.1102.1102.1101.9

86.192.688.3

89.898.297.095.495.3

94.796.198.9

101.0100.1

101.1100.9101.2100.7100.9

101.2100.9100.399.9

100.4100.8

101.2100.8100.8100.9101.1100.6

101. 5100.8100.7100.3100.2100.8

101.2100.9101.3101.2101.1100.9

90.799.091.0

92.8104.2103.397.997.1

94.794.597.8

103.598.7

100.8100.4101.3100.1100.6

101.4100.499.098.299.4

100.1

101.0100.3100.3100.4101.099.4

101.499.9

100.2.99.798.9

100.7

101.4100.9102.2101.4100.9

86.592.088.2

89.696.594.195.095.3

95.897.799.999.3

100.8

101.5101.5101.6101.9101.6

101.7101.7101.8101.6101.8102.1

102.3101.9101.9102.0101.7102.2

102.4102.1101.5101.1101.3101.2

101.5101.4101.0101.6101.9102.1

76.981.183.2

84.189 790.491.191.8

92.895.998.7

100.1101.3

100.9100.5100.099.599.9

99.899.799.599.499.3

99.499.399.499.699.699.5

99.699.7

100.1100.0

100.199.999.9

100.099.9

61.867.470.7

72.479.580.882.183.1

85.692.097.7

100.2102.1

102.3102.5102.9103.1104.1

103.0103.0102.9102.9102.9103.0

103.0103.0103.0103.2103.4103.6

103.5103.7103.8103.9104.3104.1

104.3104.3104.2104.3104.6104.5

79.292.584.0

93.6102.993.192.488.0

96.6102.3100.996.9

102.3

98.397.295.694.397.1

94.794.994.994.394.193.9

93.993.993.994.494.594.5

94.9S4.995.296.295.695.9

96.698.398.199.199.8

100.7

73.479.877.8

81.491.288.389.489.8

92.597.099.699.4

101.0

101.4100.199.999.6

100.2

99.599.499.399.399.599.7

99.799.799.699.899.9

100.1

100.1100.2100.2100.2100.1

100.0100.099.9

100.4100.5100.6

83.188.486.5

87.894.292.993.794.1

94.897.199.599.6

100.9

101.3101.2101.0101.0100.9

101.0101.01C1.1100.8100.9101.1

101.3100.9101.0101.1100.9101.2

101.4101.2100.8100.6100.8100.7

100.9100.8100.6101.0101.1101. 3

1 Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies.* Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco,a Excludes intermediate materials for food manufacturing and manufactured animal feeds.* Preliminary.

NOTE.—For a listing of the commodities included in each sector, see Table 7B, Wholesale Prices and PriceIndexes, 1968 (BLS Bulletin 1257).


243


TABLE B-45.—Consumer price indexes, by major groups, 7929-64

For city wage earners and clerical workers

[1957-59=1001

Year or month

1920

19301931 _193219331934..

1935 . . . .1936___193719381939

19401941194219431944

1945194619471948.1949

1950195119521953..1954

19551956 . .195719581959 _

I96019611962 ,1963 .1964»«

1963: JanFeb _ .MarAprM a yJune. ___

JulyAug.Sept _ -OctNovD e c . . . _-_ - _

1964: Jan *.Feb _MarAprMay - __ __June

JulyAugSept _ -OctNov

Allitems

59.7

58.253.047.645.146.6

47.848.350.049.148.4

48.851.356.860.361.3

62.768.077.883.883.0

83.890.592.593.293.6

93.394.798.0

100.7101.5

103.1104.2105.4106.7108.1

106.0106.1106.2106.2106.2106.6

107.1107.1107.1107.2107.4107.6

107.7107.6107.7107.8107.8108.0

108.3108.2108.4108.5108.7

Food

55.6

52.943.636.335.339.3

42.142.544.241.039.9

40.544.251.957.957.1

58.466.981.388.284.7

85.895.497.195.695.4

94.094.797.8

101.9100.3

101.4102.6103.6105.1106.4

104.7105.0104.6104.3104.2105.0

106.2106.0105.4104.9105.1105.4

105.8106.0105.7105.7105.5106.2

107.2106.9107.2106.9106.8

Housing

Total

m(J)

(2)

56.357.159.160.159.7

59.961.464.264.966.4

67.569.374.579.881.0

83.288.289.992.393.4

94.195.598.5

100.2101.3

103.1103.9104.8106.0107.2

105.4105.4105.7105.8105.7105.9

106.0106.0106.2106.3106.6106.9

106.9106.9107.1107.0106.9107.1

107.1107.2107.4107.6107.7

Rent

85.4

83.178.770.660.857.0

56.958.360.962.963.0

63.264.365.765.765.9

66.166.568.773.276.4

79.182.385.790.393.5

94.896.598.3

100.1101.6

103.1104.4105. 7106.8107.8

106.3106.4106.4106.5106.6106.7

106.7106.8107.0107.1107.2107.3

107.3107.5107.5107.7107.7107.8

107.8107.9107.9108.2108.3

Ap-parelandup-

keep1

55.3

54.149.243.642.146.1

46.546.949.349.048.3

48.851.159.662.266.7

70 176.989.295 091.3

90 198 297.296 596.3

95.997 899.599.8

100.6

102 2103.0103.6104.8105,6

103.7104.0104.2104.4104 3104.5

104.5104 7105.4105.9106 1106.1

105.0105.1105.3105.6105.7105.7

105.5105.3105.9106.2106.4

Trans-porta-tion

;;;

(2)

49.449.850.651.049.8

49.551.255.755.555.5

55.458.364.371.677.0

79.084.089.692.190.8

89.791.396.599.7

103.8

103.8105.0107.2107.8109.2

106.6106.8107.0107.0107.4107.4

107.8108.3107.9109.0109.1108.9

109.4108.6108.9109.0109.1109.2

109.4109.3108.9109.4110.0

Medi-calcare

49.449.650.050.250.2

50.350.652.054.556.2

57.560.765.769.872.0

73.476.981.183.986.6

. 88.691.895.5

100.1104.4

108.1111.3114.2117.0119.3

115.8115.9116.1116.4116.7117.2

117.3117.4117.5117.7117.9117.9

118.2118.5118.7119.0119.1119.3

119.5119.8119.7119.9120.2

Per-sonalcare

m(2)

42.643.245.746.746.5

46.447.652.257.661.7

63.668.276.279.178.9

78.986.387.388.188.5

90.093.797.1

100.4102.4

104.1104.6106.5107.9109.1

107.4107.3107.3107.6107.8107.8

108.0108.0108.2108.4108.4108.8

108.5108.4108.7108.7108.9109.1

109.3109.4109.5109.7109.7

Read-ing andrecrea-tion

(*)

(2)

50.251.052.554.354.4

55.457.360.065.072.0

75 077.582.586.789.9

89 392.092.493.392.4

92.193.496.9

100.8102.4

104.9107.2109.6111.5114.0

110.2110.0110.1111.0110.7110.9

111.5112.1112.3112.7112.8113.1

113.1113.3113.6114.0114.1114.0

114.1114.2114.3114.5114.9

Othergoodsand

services

(2)

(2)

$

852.752.654.054.555.4

57.158.259.963.064.7

67.369.575.478.981.2

82.686.190.692.894.3

94.395.898.599.8

101.8

103.8104.6105.3107.1108.7

105.7105.7105.7105.8106.0107.6

108.0108.0108.0108.2108.3108.3

108.3108.4108.5108.6108.7108.7

108.9108.9109.0109.1109.1

1 Not comparable to previous "apparel" series; index revised to include laundry and drycleaning;formerly included in housing group; indexes prior to 1953 estimated.

»Not available.3 January-November average.* New series, beginning January 1964. For details, see Department of Labor Release, Major Changes in

the Consumer Price Index, March 5,1964.Source: Department of Labor, Bureau of Labor Statistics.

244


TABLE B-46.—Consumer price indexes, by special groups, 1935-64

For city wage earners and clerical workers

[1957-59-100}

Year or month All

terns

47.848.350.049.148.4

48.851.356.860.361.3

62.768.077.883.883.0

83.890.592.593.293.6

93.394.798.0

100.7101.5

103.1104.2105.4106.7108.1

106.0106.1106.2106.2106.2106.6

107.1107.1107.1107.2107.4107.6

107.7107.6107.7107.8107.8108.0

108.3108.2108.4108.5108.7

Allitemslessfood

52.553.054.955.555.1

55.356.960.962.665.0

66.569.475.881.382.1

83.188.490.592.392.8

93.194.797.9

100.1102.0

103.7104.8106.1107.4108.8

106.5106.6106.8107.0107.0107.3

107.5107.6107.8108.1108.4108.5

108.4108.4108.6108.6108.7108.8

108.8108.9109.0109.2109.5

Allitemslessshel-ter

46.146.748.246.846.0

46.349.155.359.560.5

62.168.479.485.684.1

84.791.893.693.993.9

93.494.797.8

100.7101.5

103.0104.2105.4106.7107.9

105.9106.1106.1106.1106.1106.6

107.1107.2107.1107.2107.4107.5

107.6107.5107.5107.7107.7107.9

108.2108.1108.2108.3108.5

Commodities

Allcom-modi-ties1

45.045.647.445.644.7

45.148.255.260.160.8

62.669.483.489.487.1

87.695.596.796.495.5

94.695.598.5

100.8100.9

101.7102.3103.2104.1105.1

103.4103.6103.6103.6103.5104.0

104.6104.6104.4104.5104.7104.9

104.9104.8104.8104.9104.8105.0

105.3105.2105.4105.5105.6

Food

42.142.544.241.039.9

40.544.251.957.957.1

58.466.981.388.284.7

85.895.497.195.695.4

94.094.797.8

101.9100.3

101.4102.6103.6105.1106.4

104.7105.0104.6104.3104.2105.0

106.2106.0105.4104.9105.1105.4

105.8106.0105.7105.7105.5106.2

107.2106.9107.2106.9106.8

Commodities less food

AH*

50.350.953.153.152.2

52.555.161.363.967.4

70.174.484.090.489.1

89.095.796.596.695.6

94.995.998.899.9

101.2

101.7102.0102.8103.5104.3

102.6102.7102.9103.1103.0103.3

103.5103.6103.7104.2104.5104.5

104.3.104.1104.3104.3104.3104.3

104.3104.2104.3104.6104.8

Dura-bles^

47.147.850.851.750.6

50.253.760.963.068.7

73.977.483.890.091.3

92.399.3

100.699.597.1

95.395.498.5

100.0101.5

100.9100.8101.8102.1102.9

101.2101.2101.5101.8101.8102.0

102.1102.1102.2102.7103.1103.0

102.9102.9102.9102.9102.8102.9

102.9102.8102.8103.1103.5

Non-dura-bles

48.849.251.250.950.1

50.652.858.460.964.0

66.371.181.788.086.3

86.292.793.294.094.4

94.496.599.199.8

101.0

102.6103.2103.8104.8105.7

104.0104.1104.2104.3104.2104.5

104.8105.0105.2105.6105.8105.9

105.6105.3105.6105.6105.7105.6

105.6105.6105.8106.0106.1

V

Allserv-ices i

52.352.954.555.555.6

55.856.558.359.460.8

61.662.865.469.572.7

75.179.082.686.088.7

90.592.896.6

100.3103,2

106.6108.8110.9113.0115.1

112.0112.1112.3112.5112.6112.9

113.1113.3113.5113.7113.9114.1

114.2114.3114.5114.8114.9115.1

115.3115.4115.5115.7116.0

3ervices

Rent

56.958.360.962.963.0

63.264.365.765.765.9

66.166.568.773.276.4

79.182.385.790.393.5

94.896.598.3

100.1101.6

103.1104.4105.7106.8107.8

106.3106.4106.4106.5106.6106.7

106.7106.8107.0107.1107.2107.3

107.3107.5107.5107.7107.7107.8

107.8107.9107.9108.2108.3

Allserv-icesless

rent*

49.549.249.750.150.1

50.250.753.055.358.1

59.261.464.568.271.6

73.678.181.884.987.4

89.491.996.1

100.2103.6

107.4110.0112.1114.5116.8

113.4113.4113.7114.0114.0114.4

114.6114.8

' 115.1115.3115.5115.8

116.0116.0116.3116.5116.6116.8

117.0117.2117.4117.6117.9

1935..1936.1937.1938.1939.

1940.1941.1942.1943.1944-

1945.1946.1947.1948.1949-

1950.1951.1952.1953.1954.

1955-1956.1957.1958-1959.

19601961-.-.1962--..1963-.--1964 2 3..

1963: Jtfn,__Feb...Mar__Apr...May-June..

July..Aug..Sept..Oct...Nov..Dec...

1964: Jan 3_.Feb...Mar..Apr...May..June..

July..Aug..Sept..Oct.-Nov..

1 Indexes have been revised to reflect transfer of homeownership from services to durable commodi es;indexes prior to 1956 estimated. For details, see Department of Labor release, Major Changes in the m-Burner Price Index, March 3,1964.

a January-November average.• New series beginning January 1964.


245


MONEY SUPPLY, CREDIT, AND FINANCETABLE B-47.—Money supply, 1947-64

[Averages of daily figures, billions of dollars]

Year and month

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply >

Total

Cur-rencycom-po-

nent

De-mand

depositcom-

ponent

Timede-

positsad-

just-ed*

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply >

Total

Cur-rencycom-po-

nent

De-mand

depositcom-

ponent

Timede-

positsad-

just-ed*

U.S.Gov-ern-

mentde-

mandde-pos-i t s '

1947: D e c .1948: D e c .1949: D e c .

1950: D e c .1951: D e c .1952: D e c .1953: D e c .1954: D e c .

1955: D e c .1956: D e c .1957: D e c .1958: D e c .1959: D e c .

1960: D e c .1961: D e c .1962: D e c .1963: D e c .1964: Dec 4.

1963: Jan...Feb..Mar_.

May-Junc.

July..Aug..Sept_.Oct...Nov..Dec.

1964: Jan...Feb..Mar._

MPay-~June. .

July. .Aug. .Sept..Oct.. .Nov..Dec 4 .

Seasonally adjusted Unadjusted

148.5147.5147.6

152.9160.9168.5173.3180.6

185.2188.8193.3206.5209.5

214.0228.3245.5265.5285.9

247.2248.9250.8252.0253.2254.8

256.6258.3259.7261.6264.6265.5

267.7268.9269.9270.9271.9274.1

276.1277.8279.7281.7284.2285.9

113.1111.5111.2

116.2122.7127.4128.8132.3

135.2136.9135.9141.1142.1

141.1145.5147.6163.2159.4

148.0148.4148.9149.2149.6150.2

151.0151.2151.6152.3153.5153.2

153.8153.8154.2154.5154.5155.6

156.7157.2168.0168.6159.1159.4

26.425.825.1

25.026.127.327.727.4

27.828.228.328.628.9

29.630.632.434.2

30.730.931.131.231.331.5

31.631.831.932.032.332.4

32.732.933.033.333.4

33.533.733.833.934.234.2

86.785.886.0

91.296.5

100.1101.1104.9

107.4108.7107.6112.6113.2

112.1116.0117.1120.7125.2

117.4117.6117.8118.1118.3118.6

119.4119.5119.7120.3121.2120.7

121.2121.1121.3121.5121.3122.1

123.3123.5124.2124.7124.9125.2

35.436.036.4

36.738.241.144.548.3

50.051.957.465.467.4

72.982.897.9

112.3126.5

99.2100.5101.9102.8103.6104.6

105.6107.1108.1109.3111.1112.3

113.9115.1115.7116.4117.4118.5

119.4120.6121.7123.1125.1126.5

151.0150.0150.0

155.6163.8171.7176.3183.6

188.2191.7196.0209.3212.2

216.8231.2248.3268.2288.6

250.4248.5249.5252.9251.8263.5

255.7256.7258.9262.0265.0268.2

271.0268.4268.6271.7270.5272.8

275.3276.2278.9282.1284.5288.6

115.9114.3113.9

119.2125.8130.8132.1135.6

138.6140.3139.3144.7145.6

144.7149.4151.6157.2163.6

151.8148.4147.6149.8147.5148.3

149.5149.2150.6152.5154.8157.2

157.8163.8152.9155.0152.4153.6

155.2155.1156.9158.8160.4163.6

26.826.225.5

25.426.627.828.227.9

28.428.828.929.229.5

29.630.231.233.134.9

30.530.530.730.931.031.4

31.831.931.932.132.633.1

32.432.332.632.733.033.3

33.733.833.834.034.534.9

89.188.188.4

93.899.2

103.0103.9107.7

110.2111.5110.4115.5116.1

115.2119.2120.3124.1128.7

121.2117.9116.9118.9116.5116.9

117.7117.3118.6120.4122.1124.1

125.4121.5120.3122.3119.4120.3

121.5121.3123.1124.8125.9128.7

35.135.736.1

36.438.040.944.248.0

49.651.456.764.666.6

72.181.896.7

111.0125.0

98.6100.1101.9103.1104.3105.2

106.2107.5108.3109.5110.2111.0

113.2114.6115.7116.7118.1119.2

120.1121.1122.0123.3124.1125.0

1.01.82.8

2.42.74.93.85.0

3.43.43.53.94.9

4.74.95.65.25.5

4.85.76.04.27.17.5

7.86.36.65.34.45.2

4.24.86.14.26.97.8

7.06.46.65.65.85.5

i Money supply consists of (1) currency outside the Treasury, the Federal Reserve, and vaults of allcommercial banks; (2) demand deposits at all commercial banks, other than those due to domestic commer-cial banks and the U.S. Government, less cash items in process of collection and Federal Reserve float;and (3) foreign demand balances at Federal Reserve Banks.

* Time deposits adjusted are time deposits at all commercial banks other than those due to domesticcommercial banks and the U.S. Government.

* Deposits at all commercial banks.4 Preliminary.

NOTE.—Between January and August 1959, the series were expanded to include data for all banks inAlaska and Hawaii.


246


TABLE B-48.—Bank loans and investments, 1929-64[Billions of dollars]

Year or month

1929: June8-1930: June*1931: June1-1932: June'1933: June1

1934* June • - -1935 — - -1936193719381939194019411942 _1943-194419451946194719481949I960195119521953 -1954-.19551956195719581959196019611962«1963 •1964 87__-1963: Jan

FebMar.._AprMayJune . . . . . . . .JulyAugSeptOctNovDec«

1964: JanFebMarApr.May . .JuneJulyAugSeptOct 7Nov7 __Dec«r

All commercial banks»

Totalloansand

invest-ments 3

49.448.944.936.130.432.736.139.638.438.740.743.960.767.485.1

105.5124.0114.0116.3

* 113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2185.9194.5209.8228.3246.5266.0229.6231.6233.5233.5235.5238.4238.0239 2241.5241.2244.2246.5246 7248.4251.4251.8253.5256.3254.5258.7261.7260.8264.9266.0

Loans9

35.734.529 221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138 1

M1.542.051.166.562.866.169.080.588.091.495.6

107.6113.8120.5133.9149.4166.7134.8136.3137.3137.6139 4141.7142.6143 6145.4146.1148.4149.4151 0151.8153.9155.4157.3160.0159 7161.5163.0163.1165.2166.7

Investments

U.S. Gov-ernmentsecurities

4.95.06.06.27.5

10.313.815.314.216.116.317.821.841.459.877.690.674.869.2

162.366.461.260.362.162.367.760.357.357.165.157.859.965.465.262.160.965.065.165.764.764.264.462.662.062.260.861.462.160.861.262.160.860.360.058.460.261.259.961.360.9

Othersecurities

8.79.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.0

19.210.312.413.414.214.716.416.816.317.920.520.520.823.929.235.038.429.830.230.531.231.932.332.833.633.934.334.435.034.935.435.435.635.936.336.437.037.537.838.438.4

Weekly re-porting mem-ber banks •

Businessloans *

5.14.24.75.37.16.36.46.57.3

11.314.715.613.917.921.623.423.422.426.730.831.831.730.732.232.935.238.841.734.334.635.235.035.035.635.035.235.936.337.338.837.237.638.238.138.338.738.538.940.039.940.542.1

1 Data are for last Wednesday of month (except June 30 and December 31 call dates) for all commercialbanks. Seasonally adjusted data beginning 1948.

2 Adjusted to exclude interbank loans beginning 1948.3 Member banks are all national banks and those State banks which have taken membership in the

Federal Reserve System. Weekly reporting member banks comprise about 350 large banks in over 100leading cities. Data are for last Wednesday of month.

* Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans tofinancial institutions excluded. Series revised beginning July 1946, October 1955, July 1958, and July 1959.Prior to 1944 published data adjusted to include open market paper.

s June data are used because complete end-of-year data are not available prior to 1935 for U.S. Governmentobligations and other securities.

e Commercial bank data are estimates for December 31.^ Preliminary.NOTE.—National bank data in Alaska and Hawaii included beginning April 1954 and 1959, respectively.

All other bank data in Alaska and Hawaii included beginning January 1959 and August 1959, respectively.


247


TABLE B-49.—Bondyields and interest rates, 1929-64

[Percent per annuml

Year or month

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

I9601951195219531954

19551956195719581959

19601961196219631964

1962- JanFeb. .MarApr.MayJune,

JulyAugSept _OctNovDec

3-monthTreas-

urybills i

(«)

(a)1.402.879.515.256

.137

.143

.447

.053

.023

.014

.103

.326

.373

.375

.375

.375KQ4

]

1

1

L.040L.102

9181.552L.766.931.953

1.7532.6583.2671.8393.405

2.9282.3782.7783.1573.549

2.7462 7522.7192.7352.6942.719

2.9452.8372.7922.7512 8032.856

U.S. Governmentsecurities

9-12monthissues'

CO

CO00000000

00(')/fl\(')

CO0.75

.79

.81

.82

.881.141.14

1.261.731.812.07.92

1.892.833.532.094.11

3.552.913.023.283.76

3.083 112.992.942.983.02

3.233.133.002.902 922.95

3-5year

issues *

2.662.12

1.291.111.40.83.59

.50

.73

14634

L. 33

1816

L.326?43

1.501.932.132.561.82

2.503.123.622.904.33

3.993.603.573.724.06

3.843 773.553.483.533.51

3.713.573.563.463 463.44

Taxablebonds*

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.473.434.08

4.023.903.954.004.15

4.084 094.013.893.883.90

4.023.983.943.893 873.87

Corporatebonds

(Moody's)

Aaa

4.73

4.554.585.014.494.00

3.603.243.263.193.01

2.842.772.832.732.72

2.622.532.612.822.66

2.622.862.963.202.90

3.063.363.893.794.38

4.414.354.334.264.40

4.424 424.394.334.284.28

4.344.354.324.284 254.24

Baa

5.90

5.907.629.307.766.32

5.754.775.035.804.96

4.754.334.283.913.61

3.293.053.243.473.42

3.243.413.523.743.51

3.533.884.714.735.05

6.195.085.024.864.83

5.085 075.045.025.005.02

5.055.065.034.994 964.92

High-grade

munic-ipal

bonds(Stand-a r d *

Poor's)

4.27

4.074.014.654.714.03

3.403.073.102.912.76

2.602.102.362.061.86

1.671.642.012.402.21

1.982.002.192.722.37

2.632.933.603.563.95

3.733.463.183.233.22

3.323.283.193.083.093.24

3.303.313.183.033.033.12

Averagerate onshort-termbankloans

to busi-n e s s -

selectedcities

(7)(7)

0)C1)0)0)(7)

0)O)O)2 1

2.12.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.64.3

•5.0

5.25.05.05.05.0

4.98

5.01

4.99

5.02

Primecom-mer-cial

paper,

months

5.85

3.592.642 731.731 02

.7575

.94

.81

.59

.56

.53

.6669

.73

.75

.811.031.441.49

1.452.162.332.521.58

2.183.313.812.463.97

3.852.973.263.553.97

3.263 223.253.203.163.25

3.363.303.343.273 233.29

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112 822.561 54

1.501 501.331.001.00

1.001.00

"1.00•1 00U.00

•1.00U.00

1.001.341.50

1.691.751.751.991.60

1.892.773.122.163.36

3.533.003.003.233.55

3.003 003.003.003.003.00

3.003.003.003.003 003.00


248


TABLE B-49.—Bondyields and interest rates, 1929-64— Continued

[Percent per annum]

Year or month3-monthTreas-

urybills i

U.S. Governmentsecurities

9-12monthissues9

3-5year Taxable

bonds«

Corporatebonds

(Moody's)

Aaa Baa

High-grade

munic-ipal

bonds(Stand-ard &Poor's)

rate onshort-termbankloans

to busi-

selectedcities

Primecom-mer-cial

paper.

months

Fed-eralRe-

serveBankdis-

countrate

1963: Jan..Feb..Mar.Apr.MayJune.

July-Aug.Sept.Oct-Nov.Dec.

1964: Jan..Feb..Mar.Apr..May.June.

July.Aug.Sept.Oct-Nov.Dec.

2.9142.9162.8972.9092.9202.995

3.1433.3203.3793.4533.522

3.5293.5323.5533.4843.4823.478

3.4793.5063.5273.5753.6243.856

2.972.892.993.023.063.17

3.413.543.593.703.77

3.663.633.673.633.67

3.683.733.823.833.883.96

3.473.483.503.563.573.67

3.783.813.883.913.974.04

4.064.024.154.184.074.03

3.994.034.044.044.07

3.893.923.933.973.974.00

4.013.994.044.074.114.14

4.154.144.184.204.164.13

4.134.144.164.164.124.14

4.214.194.194.214.224.23

4.264.294.314.324.334.35

4.374.364.384.40,41.41

.40

.41

.42

.42

.43,44

4.914.894.884.874.864.84

4.844.834.844.834.844.85

4.834.834.834.854.854.85

4.834.824.824.814.814.81

3.123.183.113.113.153.27

3.293.223.273.323.413.34

3.233.173.323.293.213.20

3.183.203.253.263.183.15

5.00

5.01

5.01

5.00

4.99

4.99

4.98

5.00

3.343.253.343.323.253.38

3.493.723.883.883.883.96

3.973.884.003.913.894.00

3.963.883.894.004.024.17

3.003.003.003.003.003.00

3.243.503.503.503.503.50

3.503.503.503.503.503.50

3.503.503.503.503.624.00

i Rate on new issues within period. Issues were tax exempt prior to March 1, 1941, and fully taxablethereafter. For the period 1934-37, series includes issues with maturities of more than 3 months.

* Includes certificates of indebtedness and selected note and bond issues (fully taxable).* Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable there-

after.« First issued in 1941. Series includes bonds which are neither due nor callable before a given number of

years as follows: April 1953 to date, 10 years; April 1952-March 1953, 12 years: October 1941-March 1952,15 years.

* Treasury bills were first issued in December 1929 and were issued irregularly in 1930.* Not available before August 1942.r Not available on same basis as for 1939 and subsequent years.8 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances

secured by Government securities maturing or callable in 1 year or less.* Series revised to exclude loans to nonbank financial institutions.NOTE.—Yields and rates computed for New York City, except for short-term bank loans.

Sources: Treasury Department, Board of Governors of the Federal Reserve System, Moody's InvestorsService, and Standard & Poor's Corporation.

249


TABLE B-50.—Federal Reserve Bank credit and member bank reserves, 192&-64

[Averages of dally figures, millions of dollars]

Year and montb

Reserve Bank credit outstanding

TotalU.8.

Govern-ment se-curities

Memberbank

borrow-ings

Allother,

mainlyfloat

Member bank reserves

Total Re-quired Excess

Memberbank freereserves(excess

reservesless bor-rowings)

1929: Dec.

Dec-Dec...Dec-DecDec

1931:1932:1933:1934:

1935:1936:1937:1938:

Dec.Dec-Dec.Dec.Dec.

1940: Dec...1941: D e c1942: Dec...1943: Dec...1944: D e c

1945: D e c1946: D e c1947: Dec...1948: D e c .1949: D e c

1950: D e c1951: Dec...1952: D e c1953: D e c1954: D e c

1955: D e c1956: D e c1957: D e c1958: D e c1959: D e c

1960: Dec—1961: Dee..-1962: D e c -1963: Dec.. .1964: Dec3-.

1963: Jan.._Feb.-Mar-Apr...May-June-

July..Aug..Sept..Oct.-Nov..Dec.

1964: Jan...Feb...Mar..

Mayl!June..

July..Aug..Sept..Oct—Nov3.Dec*.

1,643

1,2731,9502,192

2,472

2,4942,4982,6282,6182,612

2,3052,4046,03511,91419,612

24,74424.74622,85823,97819,012

21,60625,44627,29927,10726,317

26,85327,16626,18628,41229,435

29,06031,21733.21836,61039,873

32.66332,28732,47732,69232,97233.454

34,26234.08034,44034,62835,35336,610

35,77035,02835,45435,60235,98136,760

37,07737,17037,57837.74738,42139,873

446

644777

1,8542,4322,430

2,4302,4342,5652,5642,510

2,1882,2195,54911,166

23.70823,76721,90523,00218,287

20,34523,40924,40025,63924,917

24,60224,76523,98226,31227,036

27.24829.09830,54633,72937,126

30,19830,54130,61330.89731.13831.540

32.15832.23332.34132.64833.12633.729

33,20033,00933,38933,49833,90734,631

34,89835,11835,27335,33436,03637,126

801

3377632819510

6

167

35400265

334157224134118

142657

1,593441246

710557906

87149304327243

172155121209236

322330321313376327

256304259213255270

265334331309430243

2924105714232

57474799

114180483659654

702821729842607

1,1191,3801,3061,0271,154

1,4121,7031,4941,5431,493

1,7251,9702,3682,5542,504

2,3661.5741,7091.6741.6251,678

1,7821.5171,7781,6671,8512,554

2,3141,7151,8061,8911,8191,859

1,9141,7181,9742,1041,9552,504

2,395

2,4152,0692,4352,5884,037

5,7166,6656,8798,745

11,473

14,04912,81213.15212,74914,168

16,02716,51717.26119,99016,291

17,39120,31021,18019,92019,279

19,24019,63519,42018,899

'18,932

19,28320.11820,04020,74621,615

20,03219,58219.51519,57219,67919,729

20,02019,71919,94520.00320.11420.746

20,67320,14620,21320,27720,22020,558

20,66520,56620,92821,03321,16021,615

2,347

2,3422,0101,909

U.8222,290

2,7334,6195,8085,5206,462

7,4039,422

10,77611,70112,884

14,63615,61716,27519,19315,488

16,36419,48420,45719,22718,576

18,64618,88318,84318,38318,460

18, M419,55019,46820,21021,201

19,55819,10919,09119.13819,22319,355

19.63719.25619,53319,59619,70520.210

20,24219,75319,85519,89719,88320,168

20,26520,14920,50320,61820,76421,201

48

7360526

»7661,748

2,0461,0713,2265,011

6,6463,3902,3761,0481,284

1,491900986797

1,027826723693703

594652677516482

572536414

474473424434456374

483463412407409536

431393358380337

400417420415396414

-763

-264-703

245671

1,738

2,9772,0391,0553,2195,008

6,6433,3852,372958

1,019

1,167743762663

885169

—870252457

-245-36-133-41-424

682419268209171

384300271313248141

158137929433209

175899916782120

1358389106-34171

i Data from March 1933 through April 1934 are for licensed banks only,s Beginning December 1959, total reserves held include vault cash allowed.* Preliminary.NOTE.—Data for member banks in Alaska and Hawaii included beginning 1954 and 1959, respectively.8ource: Board of Governors of the Federal Reserve System.

250


TABLE B-51.—Short- and intermediate-term consumer credit outstanding, 1929-64[Millions of dollars]

End of year or month Total

7,116

6,3515,3154,0263,8854,218

5,1906,3756,9486.3707,222

8,3389,1725,9834,9015,111

5,6658.384

11,59814,44717,364

21,47122,71227,52031,39332,464

38,83042.33444,97045,12951,542

56,02857.67863,16469,89076,700

62,46261,98962,14963,16764,13564,987

65,49166,30866,53867,08867, 74669,890

69,20368,78668,91369,81670,94571,907

72,45673,06973,49573.92874,37176,700

Instalment credit

Total

3,524

3,0222,4631,6721,7231,999

2,8173,7474.1183,6864,503

5,5146,0853.1662,1362,176

2.4624,1726.6958,996

11,590

14,70315,29419,40323,00523,568

28.90631,72033,86733,64239,245

42,83243,52748.03453,74559,300

47,92047,85248,07548,80649,48450,307

50,89451,52651,71852,25752.69553,745

53,59753,55253,79554,38255,12055,914

56,49657,05557,44657,82658,08559,300

Auto-mobilepaper»

1,384

986684356493614

9921,3721,4941,0991,497

2,0712,458

742355397

455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13,46014,42015.34014,15216,420

17,68817.22319,54022,19924,550

19,58219,67819,93020.37620,79421,236

21,59321,81921.72521,97122. 10722,199

22,18922,27122,47122,83023, 25523,702

24,02424,25124,29524,42324,36724,550

Othercon-

sumergoods

paper l

1,544

1,4321,214

834799889

;

,000,290

L,505,442

L,620

L.8271,9291,195

819791

8161,2902,1432,9013,706

4,7994,8806,1746,7796,751

7,6418.6068,8449,028

10.630

11,52511.85712.60513,76615,200

12,45312.25012.14912.19712,27212.422

12, 45912,60712, 70212,84513.0-1613,766

13.63813,46713,45113,47613,59913,730

13,81313,92314.04614, 22214,43115,200

Repairand

modern-izationloans*

27

2522181537

253364219218298

371376255130119

182405718853898

1,0161,0851.3851,6101,616

1,6931,9052,1012,3462,809

3,1393,1913.2463,3893,500

3,2113,1853.1773,2003,2453,281

3,3163,3573.3773,4003,4073,389

3,3543,3353,3213,3283,3643.395

3,4263,4663,4933,5093,5163,500

Per-sonalloans

569

579543464416459

572721900927

1,088

1,2451,322

974832869

1,0091.4961,9102,2242,431

2,8143,3574,1114,7815,392

6,1126,7897,5828,1169,386

10,48011,25612,64314,39116,050

12,67412.73912.81913.03313,17313,368

13,52613,74313,91414,04114. 13514,391

14,41614,47914, 55214,74814,90215,087

15,23315,41515,61215,67215,77116,050

Noninstalment credit

Total

3,592

3,3292,8522,3542,1622,219

2,3732,6282,8302,6842,719

2.8243,0872,8172,7652,935

3,2034,2124,9035,4515,774

6,7687,4188,1178,3888,896

9,92410,61411,10311.48712,297

13,19614,15115.13016,14517,400

14,54214,13714.07414.36114,65114,680

14,59714,78214,82014.83115.05116,145

15,60615,23415,11815,43415,82515,993

15,96016,01416,04916,10216,28617,400

Chargeac-

counts

1,996

]

,833,635

1,3741,2861,306

1,3541,4281,5041,4031,414

1,4711,6451,4441.4401,517

1,6122,0762,3812,7222,854

3,3673,7004,1304,2744,485

4,7954,9955,1465,0605,104

5,3295,3245,6845,8716,300

5,0714,5114,3744,5814.7934,783

4,7604,8394,8334,8984.9995,871

5,3394,8054,6344,8335,0995,238

5,2405,2315,2235,3525,3946,300

Others

1,596

1,4961,217

980876913

1,0191,2001,3261,2811,305

1,3531,4421,3731,3251,418

1,5912,1362,5222,7292,920

3,4013,7183,9874,1144,411

5,1295,6195,9576,4277,193

7,8678,8279,446

10,27411,100

9.4719.6269,7009,7809,8589,897

9,8379,9439,987.9.933

10.05210,274

10,26710,42910,48410,60110,72610,755

10,72010,78310,82610,75010,89211,100

1929—.

19301931—.1932....1933—.1934....

1035...1936...1937-.1938...1939...

19401941194219431944

1945...1946...1947...1048-1949..

1050—195119521053—1054—

1055—1956—1057—1958—1059—

19601961—1962....1963—.1964*..

1063: Jan....F e b . -Mar. .Apr....May. .June..

July...Aug...Sept...Oct...Nov. . .Dec . . .

1964: Jan__Feb. .Mar..Apr..May.June.

July...AugSept..Oct . . .Nov.. .Dec *..

1 Includes all consumer credit extended for the purpose of purchasing automobiles and other consumer

* Includes only such loans held by financial institutions; those held by retail outlets are included in "otherconsumer goods paper."

1 Single-payment loans and service credit.* Preliminary; December by Council of Economic Advisers.NOTE.—Data for Alaska and Hawaii included beginning January and August 1959, respectively.Source: Board of Governors of the Federal Reserve System (except as noted).

251


T A B L E B-52.—Instalment credit extended and repaid, 7946—64


Year or month

1946-1947-1948-1949-

1950..1951..1952-1953-1954..

1955..1956..1957..1958-1959-

1960-1961-1962..1963..19641

1963: Jan...Feb..Mar..Apr..May-June..

July..Aug..Sept..Oct.-Nov..Dec._

1964: Jan...Feb..Mar._Apr...May-June..

JulyAug.Sept.Oct..Nov..Dec L

Total

Ex-tended

8,49512,71315,58518,108

21,55823,57629,51431,55831,051

38,97239,86842,01640,11948,052

49, 56048, 39655,12660. 82265,800

Re-paid

6,78510,19013,28415,514

18,44522,98525,40527,95630,488

33,63437,05439,86840,34442,603

45,97247, 70050, 62055, 11160,275

Automobilepaper

Ex-tended

1,9693,6925,2176,967

8,5308,95611,76412,98111,807

16,73415,51516,46514,22617,779

17,65416,00719,79622,01323,525

Re-paid

1,4432,7494,1235,430

7,0119,05810,00310,87911,833

13,08214,55515,54515,41515,579

16. 38416, 47217,47819, 35421,150

Other consumergoods paper

Ex-tended

3,0774,4985,3835,865

7,1507,4859,1869,2279,117

10,64211,72111,80711,74713,982

14,47014, 57815,68517,00719,000

Re-paid

2,6033,6454,6255,060

6,0577,4047,8928,6229,145

9,75210,75611,56911,56312,402

13, 57414,24614,93915,84617, 600.

Repair andmodernization

loans

Ex-tended

423704714734

835841

1,2171,3441,261

1,3931,5821,6741,8712,222

2,2132,0682.0512,1782,225

Re-paid

200391579

717772917

1,1191,255

1,3161,3701,4771,6261,765

1,8832,0151,9962,03S2,100

Personalloans

Ex-tended

3,0263,8194,2714,542

5,0436,2947,3478,006

10,20311,05112,06912, 27514,070

15,22315, 74417,59419, 62421,050

Seasonally adjusted

4,8994,9574,9735,0084,9855,054

5,1005,1005,0935,3114,9795,272

5,2765,4215,4805,3715,5525,399

5,5415,5295,6175,5075,4565,700

4,4144,4624,4964,4874, 5444,568

4,5914,6194, 7524,7804,5964,812

4,8484,8424,9564,9595,0595,029

5,0585,0945,1045,0975,1555,200

1,8071,8091,8111,8701,8471,820

1,8541,8021,7301,9101,7921,914

1,8881,9531,9421,9612,0231,962

1,9962,0172,0241,9241,8582,050

1,5641,5661,5461, 5851,6111,588

1,6031,6071,6591,6761,6381,707

1,6841,7161,7351,7591,7761,768

1,7811,7891,8021,7881,8181,825

1,3601,3951,4061,3591,3571,408

1,4091,4411,4251,4571,4321,523

1,4931,5781,6651,5441, 5891,537

1,5461,5701,5881,5821,6311,675

1,2771,2891,3241,2761,2941,317

1,3301,3261,3471,3621,3241,384

1,4411,3951,4681,4531,4831,486

1,4481,4961,4911, 4561,5091,550

172169180187188186

191185181188168172

185186179174187183

189186186180175175

167165170170170167

171170174170167177

176171174172175170

171172172167174175

1,5601, 5841,5761,5921, 5931,640

1,6461,6721,7571,7561,5871,663

1,7101,7041,6941,6921,7531,717

1,8101,7561,8191,8211,7921,800

Re-paid

2,5393,4053,9574,335

4,6605,7516,5937,3368,255

9,48410,37311,27611,74112,857

14,13014,96716,20617, 87619,425

1,4061,4421,4561,4561,4691,496

1,4871, 5161,5721, 5721,4671,544

1,5471,5601,5791.5751,6251,605

1,6581,6371,6391,6861,6541,650

» Preliminary; December by Council of Economic Advisers.

NOTE.—Data for Alaska and Hawaii included beginning January and August 1959, respectively. There-fore, the difference between extensions and repayments for January and August 1959 and for the year 1959does not equal the net change in credit outstanding.

Source: Board of Governors of the Federal Reserve System (except as noted).

252


TABLE B-53.—Mortgage debt outstanding, by type of property and of financings 7939-64


E n d of year or quarter

1939

19401941..194219431944

19451946194719481949

19501951195219531954. .

19551956195719581959

196019611962 •1963 3

1964 3 - .

1963: I» . . .113III 3IV 3 _

1964- 13113 .I l l 3I V 3 . .

Allprop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.5171.8190.8

206.8226.3251.6280.9310.4

257.1265.1273.1280.9

287.0295.1303.1310.4

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.7

194.0212.4236.4264.2291.6

241.6249.0256.5264.2

269.7277.1284.6291.6

1- to 4-family houses

Total

16.3

17.418.418.217.817.9

18.623.028.233.337.6

45.251.758.566.175.7

88.299.0

107.6117.7130.9

141.3153.1166.5182.2197.9

169.2173.7178.2182.2

185 2189.6194.0197.9

Government under-written

Total

1.8

2.33.03.74.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.250.153.8

56.459.162.065.5(4)

62.863.564.365.5

66.366.867.9(4)

FHAin-

sured

1.8

2.33.03.74.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.519.723.8

26.729.532.335.0(4)

33.033.534.335.0

35.736.337.4(4)

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730.430.0

29.729.629.730.5(4)

29.830.030.030.5

30.630.530.5(4)

Con-ven-

tional »

14.5

15.115.414.513.713.7

14.316.918.920.822.6

26.328.833.138.043.6

49.355.160.467.677.0

84.893.9

104.5116.7(4)

106.4110.2113.9116.7

118.9122.7126.2(4)

Multi-family

andcom-

mercialprop-

erties »

12.5

12.612.912.512.111.8

12.213 815.717.619.5

21.623.925.727.529.7

32.635 638.543.047.9

52.759.369.982.093.8

72.475.378.382.0

84.587.590.693.8

Farmprop-erties

6.6

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.27.78.2

9.09.8

10.411.112.1

12.813.915.216.818.8

15.516.116.516.8

17.318.018.518.8

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary.4 Not available.

Source: Board of Governors of the Federal Reserve System, estimated and compiled from data suppliedby various Government and private organizations.

757-981 0—65- -17 253


TABLE B--54.—Net public and private debt, 1929-641


End ofyear*

1929.

1930 . . . .1931193219331 9 3 4 . . . .

1935.1936 . . . .1937 . . . .1938 . . . .1939 . . . .

1940.19411942IIII1 9 4 3 . . . .1 9 4 4 . . . .

1945 . . . .1946 . . . .1947 . . . .1948 . . . .1 9 4 9 . . . .

1950 . . . .1 9 5 1 . . . .1952_. . .1953.1954.

1955 . . . .1956.1957 . . . .1958 . . . .1959 . . . .

19601961 . . - .1962 . . . .1963 . . . .1964 8 . . .

Total

190.9

191.0181.9174.6168.5171.4

174.7180.3182.0179.6183.2

189.9211.6259.0313.6370.8

406.3397.4417.4433.6448.4

490.3524.0555.2586.5612.0

672.3707.5738.9782.6846.2

890.2946.4

1,018.71,093. 51,163.6

Fed-eralGov-em-

mentand

agency

16.5

16.518.521.324.330.4

34.437.739.240.542.6

44.856.3

101.7154.4211.9

252.7229.7223.3216.5218.6

218.7218.6222.9228.1230.2

231.5225.4224.4232.7243.2

241.0248.1255.9261.2267.0

andlocalgov-ern-

ment8

13.2

14.115.516.616.715.916.016.216.116.016.316.516.315.814.914.1

13.713.614.416.218.1

20.723.325.828.633.4

38.442.746.750.955.6

60.065.073.779.585.7

Private

Total

161.2

160.4147.9136.7127.5125.1

124.2126.4126.7123.1124.3

128.6139.0141.5144.3144.8

139.9154.1179.7200.9211.7

250.9282.2306.5329.8348.4

402.5439.4467.8499.1547.4

589.2633.3689.0752.8810.9

(

Total

88.9

89.383.580.076.975.5

74.876.175.873.373.5

75.683.491.695.594.1

85.393.5

108.9117.8118.0

142.1162.5171.0179.5182.8

212.1231.7246.7259.5283.3

302.8323.0347.4374.6395.3

Corporate

Long-term

47.3

51.150.349.247.944.6

43.642.543.544.844.4

43.743.642.741.039.8

38.341.346.152.556.5

60.166.673.378.382.9

90.0100.1112.1121.2129.3

139.1149.4161.4174.9186.8

Short-term

41.6

38.233.230.829.130.9

31.233.532.328.429.2

31.939.849.054.554.3

47.052.262.865.361.5

81.995.997.7

101.2100.0

122.2131.7134.6138.4154.0

163.6173.6186.0199.6208.5

Individual and noncorporate

Total

72.3

71.164.456.750.649.6

49.45Q.350.949.850.8

53.055.649.948.850.7

54.660.670.883.193.7

108.8119.7135.5150.3165.6

190.4207.7221.1239.5264.1

286.4310.3341.6378.2415.6

Farm'

12.2

11.811.110.19.18.9

9.18.68.69.08.8

9.19.39.08.27.7

7.37.68.6

10.812.0

12.313.615.216.917.618.819.520.323.323.0

25.127.530.233.236.8

Nonfarm

Total

60.1

59.353.346.641.540.6

40.541.742.340.942.0

43.946.340.940.642.9

47.453.062.372.481.8

96.6106.2120.4133.6147.9

171.6188.2200.8216.2241.1

261.4282.8311.4345.0378.8

Mort-gage

31.2

32.030.929.026.325.5

24.824.424.324.525.0

26.127.126.826.126.0

27.032.538.845.160.6

59.467.475.283.894.6

108.7121.3131.6144.6160.8

174.5190.4210.6234.2257.6

Com-mer-cialand

fin an-cial*

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.814.712.111.912.913.915.816.217.818.420.8

24.024.424.326.528.7

30.834.837.640.944.5

Con-sumer

6.4

5.84.83.63.53.9

4.96.16.76.37.2

8.39.26.04.95.1

5.78.4

11.614.417.3

21.422.627.431.432.5

38.942.544.845.151.5

56.057.763.269.976.7

» Net public and private debt outstanding is a comprehensive aggregate of the indebtedness of borrowersafter elimination of certain types of duplicating governmental and corporate debt. For a further explana-tion of the concept, see Survey of Current Business, October 1950.

2 Data for State and local government debt are for June 30.» Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the

nonfarm categories.< Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers,

and debt owed to life insurance companies by policyholders.8 Preliminary estimates by Council of Economic Advisers.

NOTE.—Revisions for 1929-39 and 1955-57 in the consumer credit data of the Board of Governors of theFederal Reserve System have not yet been fully incorporated into this series.

Sources: Department of Commerce (OflBce of Business Economics), Treasury Department, Board ofGovernors of the Federal Reserve System, and Federal Home Loan Bank Board (except as noted).

254


TABLE B-55.-

GOVERNMENT FINANCE-U.S. Government debt, by kind of obligation, 1929-64


End of year or month

1929193019311932193319341935193619371938193919401941194219431944194519461947194819491950195119521953 .195419551956195719581959 —I960196119621963 _19641963- Jan

FebMarApr _ _M a y - -JuneJulyAug . .SeptOctNovDec

1964: JanFeb .MarApr. .MayJune - -July .Aug.__SeptOct . _Nov _Dec

Grosspublic

debt andguar-

anteedissues»

16.316 017 820 824 o31 535.139.141.944.447.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7303.9305.2303.5303.7305.8306.5305.5307.2307.3307.1308.9310.1309.3311.1310.4308.4312.3312.5312.0314.9316.5316.5319.3318.7

Interest-bearing public debt

Marketable publicissues

Short-term

issues *

3.32.92.85.97.5

11.114.212.512.59.87.77.58.0

27.047.169.978.257.147.745.950.258.365.668.777.376.081.379.582.192.2

103.5109.2120.5124.6121.2115.5125.4123.7123.7124.2124.0121.5121.5122.8117.8118.9120.1121.2119.9122.2121.2120.4119.5118.0109.7110.6111.9113.1115.4115.5

Treasurybonds

11.311.313 513.414 715.414.319.520.524.026.928.033.449.367.991.6

120.4119.3117.9111.4104.894.076.979.877.281.881.980.882.183.484.879.875.578.486.497.078.681.179.880.180.182.081.980.586.586.486.486.488.787.087.087.088.588.597.197.197.197.097 097.0

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01.42.23.26.1

15.027.440.448.249.852.155.156.758.057.667.957.757.757.956.352.551.248.247.247.547.548.849.747.747.948.048.148.248.348.448.548.648.748.848.848.949.049.149.149.249.349.449.449.549.649.749.7

Treasurytax andsavingsnotes

2.56.48.69.88.25.75.44.67.68.67.55.86.04.5

( vC)(*)

1(')(9)(8)(*)((J)(8)

ftI

(6)(6)

Invest-ment

bonds»

1.01.01.01.0

13.013.412.912.712.311.610.39.07.66.25.14.43.73.44.44.44.24.03.93.93.93.93.83.73.73.73.63.63.63.63.63.53.53.53.53.43.43.4

Specialissues *

0.6.8.4.4.4.6.7.6

2.23.24.25.47.09.0

12.716.320.024.629.031.733.933.735.939.241.242.643.945.645.844.843.544.343.543.443.746.142.242.542.241.643.644.843.745.544.743.343.643.741.942.943.242.045.046.645.747.447.446.346.746.1

1 Total includes non-interest-bearing debt, fully guaranteed securities (except those held by the Treas-ury), Postal Savings bonds, prewar bonds, adjusted service bonds, depositary bonds, armed forces leavebonds, Rural Electrification Administration series bonds, foreign series certificates and notes, foreigncurrency certificates and bonds, Treasury certificates, and U.S. retirement plan bonds, not shown sepa-rately. Not all of total shown is subject to statutory debt limitation.

2 Bills, certificates of indebtedness, and notes.8 Series A bonds and, beginning April 1951, series B convertible bonds.4 Issued to U.S. Government investment accounts. These accounts also held $14.5 billion of publicmarketable and nonmarketable issues on December 31,1964.

• Less than $50 million.• The last series of Treasury savings notes matured in April 1956.Source: Treasury Department.

255


TABLE B-56.—Estimated ownership of U.S. Government obligations, 1939-64[Par values,1 billions of dollars]

End of year ormonth

1939

19401941194219431944

19451946194719481949-,95019511952 .1953195419551956195719581959

I9601961 . . .19621963 . . .1964 8 _•

1963: JanFebMarAprMay ._JuneJulyAug -.SeptOctNovDec

1964: JanFebMarAprMayJuneJulyAugSeptOct.NovDec «

Gross public debt and guaranteed issues *

Total

47.650.964 3

112.5170 1232.1278.7259 5257.0252.9257.2256.7259. 5267.4275.2278.8280 8276.7275 0283 0290.9290.4296.5304.0310. 1318.7303.9305.2303.5303.7305.8306.5305.5307.2307.3307.1308.9310.1309.3311.1310.4308.4312.3312.5312.0314.9316.5316.5319.3318.7

Heldby U.S.

Gov-ern-

mentinvest-mentac-

counts

6 57.69 5

12.216 921 727.030 934 437.339.439.242.345 948 349.651.754.055 254 453.755.154 555.658.060.654.555.155.154.357.158.457.158.958.357.257.758.056.557.557.656.159.461.159.961.861.860.561.260.6

Heldby

FederalReservebanks

2.52.22.36.2

11.618.824.323.322.623.318.920.823.824.725.924.924.824.924.226.326.627.428.930.833.637.030.330.631.031.231.332.032.532.432.632.833.733.632.833.233.833.234.234.835.135.235.435.736.837.0

Held by "the public"

Total

38.641.152.594.0

141.6191.6227.4205.2200.1192.2198.9196.8193.4196.9201.0204.2204.3197.8195.5202.2210.6207.9213.1217.6218.5221.1219.1219.5217.4218.2217.4216.1215.9215.9216.4217.2217.5218.5220.0220 5219.0219.1218.8216.6217.0218.0219.3220.2221.4221.1

Com-mercialbanks *

15.917.321.441.159.977.790.874.568.762.566.861.861.663.463.769.262.059.559.567.560.362.167.267.264.363.566.765.864.765.163.964.463.361.763.063.262.864.362.962.261.661.160.060.259.360.061.862.163.463.5

Mutualsavingsbanksand in-surance

com-panies

9.410.111.915.821.228.034.736.735.932.731.529.626.325.525.124.123.121.320 219.919.518.117.517.617.116.817.717.617.617.417.217.117 317.217 217.117.117.117.217 217.217.117.016.916.917.117.217.016.916.8

Othercorpora-tions *

2.22.04.0

10.116.421.422.215.314.114.816.819.720.719.921.519.223.519.118.618.822.820.120.020.220.619.721.121.720.821.122.420.320.621.419.720.421.620.621.822.721.421.822.520.220.520.519.120.220.119.7

Stateandlocal

govern-ments*

0.4. 5.7

1.02.14.36.56.37.37.98.18.89.6

11.112.714.415.416.316.616.518.018.719.020.121.122.220.420.420.621.221.221.521.421.621.220.920.621.121.221.421.722.622.622.522.322.622.322.221.922.2

Individ-uals •

10.110.613.623.737.653.364.164.265.765. 566.366.364.665.264.863.464.765.564.063.068.064.764.464.566.268.064.965.165.764.964.464.465.265.465.866.066.266.266.967.367.967.167.467.567.867.568.068.267.968.0

Miscel-laneousinves-tors*

0.7. 7

92.34 47.09.18 18 48.99.4

10.510.611.713.213.915 616.116 616 622.124.225.028 029.231.128.229.028.128.628.328.328.328.729.529.529.329.230.129 629.129.629.229.330.230.230.930.631.131.1

1 United States savings bonds, series A-F and J, are included at current redemption value.2 Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutory

debt limitation.8 Includes commercial banks, trust companies, and stock savings banks in the United States and Terri-tories and island possessions; figures exclude securities held in trust departments. Since the estimates in thistable are on the basis of par values and include holdings of banks in United States Territories and possessions,they do not agree with the estimates in Table B-48, which are based on book values and relate only to bankswithin the United States.

* Exclusive of banks and insurance companies.* Includes trust, sinking, and investment funds of State and local governments and their agencies, and

of Territories and possessions.«Includes partnerships and personal trust accounts.* Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers

and brokers, and investments of foreign balances and international accounts in this country. Beginningwith December 1946. the international accounts include investments by the International Bank for Recon-struction and Development, the International Monetary Fund, the International Development Associa-tion, the Inter-American Development Bank, and various U.N. funds, in special non-interest-bearing notesand bonds issued by the U.S. Government. Beginning with June 30, 1947, includes holdings of Federalland banks.

» Preliminary estimates by Council of Economic Advisers.Source: Treasury Department (except as noted).

256


T A B L E B-57.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-64

End of year or monthAmount

out-standing

Maturity class

Withinlyear

1 to 5years

5 to 10years

10 to 20years

20 yearsandover

Average length

Fiscal year:1946194719481949

1950..1951..1952..1953..1954..

1955....1956....1957....1958....1959....

I960..1961..1962..1963.1964.

1963: J an . . .Feb.-.Mar..Apr...May..June..

July. .Aug...Sept..Oct.-Nov-D e c .

1964: J a n . .Feb. .Mar..Apr..May.June.

July...Aug..Sept.Oct._Nov..D e c .

Millions of dollars Years

189,606168,702160,346155,147

155,310137,917140,407147,335150,354

155,206154,953155,705166,675178,027

183,845187,148196,072203.508206,489

203,959204,751203,472204,323204,101203,508

203,491203,233204,282205,347206, 551207, 571

209, 218208,223207, 356208,009206, 489

206, 776207, 692208, 981210,118212,414212,454

61,97451,21148,74248,130

42,33843,90846,36765,27062,734

49,70358,71471,95267,78272,958

70,46781,12088,44285.29481,424

87.97888,95181,64782,46987, 79785,294

85.28685,97683,07084, 55688.38589,403

88, 44585, 04684, 04482, 55482, 93081, 424

77, 23181, 38982, 68984,13588,44388,451

24,76321,85121,63032,562

51,29246,52647,81436,16129,866

39,10734.40140,66942,55758,304

72,84458,40057,04158.02665,453

61,65759.00361.32861.07958,00758,026

58,03560.85658.08557,67856,66058,487

57,50963,39263,41364,05762,82565, 453

60, 67257, 44357,45263, 42261,42764,007

41,80735,56232,26416,746

7,7928,70713,93315,65127,515

34,25328,90812,32821,47617,052

20,24626,43526,04937.38534,929

33,97536, 45837.96237,95235,48537,385

37.37633. 62239.10039,09737,50035,682

37,90036,05336,04736,04137, 56134,929

43, 01043, 00242,99536, 72538,96336,421

17,46118,59716,22922,821

28,03529,97925,70028,66228,634

28,61328,57826,40727,65221,625

12,63010,2339,3198.3608,355

4,5664,5666,7706,7706.7698,360

8,3598.3598,3588.3588.3588,357

8,3578,3578,3568,3558,3558,355

8,3548,3548,3538,3536,1086,108

43,59941,48141,48134,888

25,8538,7976,5941,5921,606

4,3514,3497,2088,088

7,65810,96015,22114. 44416,328

15,78215,77415,76416,05416,04314,444

14,43514, 42015, 66915, 65815,64815,642

16,37816,37216,36316, 35016,33916,328

17,50817, 50517, 49117, 48317,47317,467

Months

27846

104937

1110

10101111

003221

111010

443210

NOTE.—All issues classified to final maturity except partially tax-exempt bonds, which are classified toearliest call date.

Source: Treasury Department.

257


TABLE B—58.—Federal administrative budget receipts by source and expenditures by function,fiscal years 1939-66 *


Fiscalyear

1 9 3 9 - . .

1940._. .1941. . ._1 9 4 2 . . . .1 9 4 3 . . . .1944 . . . .

1 9 4 5 . . . .1946 . . . .1947.._1948-.--1949_._.

1950.- . -1951195219531954 . . . .

1955- . . .1956-.._1957.---1958-.--1959--- .

1960.-- .19611962-._-1963---_1964- . . -

1965 6 .1966 6 .

Budget receipts (net)

Total

4,979

5,1377,096

12,54721,94743,563

44,36239,65039, 67741,37537,663

36,42247,48061,28764,67164,420

60,20967,85070,56268,55067,915

77,76377,65981,40986,37689,459

91,20094,400

Indi-vidualincometaxes

1,018

9641,4033,2516,616

18,174

18,26516,15717,83519,30515, 548

15,74521,64327,91330,10829,542

28,74732,18835,62034,72436,719

40,71541,33845,57147,58848,697

47,00048,200

Corpo-rate

incometaxes

1,144

1,1292,0374,7319,651

14,742

15,98411,8338,5699,678

11,195

10,44814,10621,22521,23821,101

17,86120,88021,16720,07417,309

21,49420,95420,52321,57923,493

25, 60027, 600

Excisetaxes(net)

1,891

2,0102,5593,4164,1184,824

6,2756,9997,2077,3567,502

7,5498,6488,8519,8689,945

9,1319,9299,0558,6128,504

9,1379,0639,5859,915

10,211

10,7339,750

Em-ploy-menttaxes

100

10499

118155181

182176183206235

225234256274283

579322328333321

339(«)

Estateandgift

taxes

357

353403420441507

637668771890780

698708818881934

9241,1611,3651,3931,333

1,6061,8962,0162,1672,394

2,8003,200

Cus-toms

302

331365369308417

341424477403367

407609533596542

585682735782925

1,105982

L, 1421,2051,252

L,4151,520

Mis-cella-neous

re-ceipts

184

253237251697

4,791

2,7913,5154,7443,6502,069

1,4221,6201,7941.8592,309

2,5623,0032,7603,2003,160

4,0624,0803,2064,4354,076

4,4854,730

Inter-fundtrans-actions

- 1 7

- 7- 7- 9

- 3 9- 7 3

- 1 1 3- 1 2 2- 1 0 9- 1 1 3- 3 3

- 7 3- 8 8

- 1 0 4- 1 5 4- 2 3 5

- 1 8 1- 3 1 5- 4 6 7- 5 6 7- 3 5 5

- 6 9 4- 6 5 4- 6 3 3- 5 1 3- 6 6 4

- 8 3 3- 6 0 0

Budget expenditures

Total

8,841

9,05513,25534,03779,36894,986

98,30360,32638,92332,95539,474

39,54443,97065,30374,12067,537

64,38966,22468,96671,36980,342

76,53981,51587,78792,64297,684

97,48199,687

Na-tional

defense

1,075

1,4986,054

23,97063,21676,757

81,27743, 22614,39811,77912,926

13,01822,47144,03750,44246,986

40,69540,72343,36844,23446,483

45,69147,49451,10352,75554,181

52,16051,578

Interna-tionalaffairsand

finance2

20

51145

1,8393,2993,642

3,3123,1076,5364,5666,052

4,6743,7362,8262,2161,732

2,3102,4673,3113,3054,802

3,0643,9544,3014,1513,687

4,0433,984


258


TABLE B—58.—Federal administrative budget receipts by source and expenditures byfunction, fiscal years 1939-66—Continued 1


Fiscalyear

1939...

19401941194219431944...

19451946...194719481949

19501951195219531954

195519561957...19581959....

19601961196219631964

1965 •____1966 6 . . .

Budget expenditures—Continued

Spacere-

searchand

tech-nology

2

38

122330

3832353849

5462677990

74717689

145

401744

1,2579 5524,171

4,9005,100

Agri-culture

andagri-

culturere-

sources 2

1,199

1,5381,3141,482

6101,215

1,607747

1,243575

2,512

2,795676

1,0682,9552,573

4,2594,2543,2083,3465,568

3,6503,7174,3975,3905,560

4,4773,944

Naturalre-

sources

360

471452533501402

319342548743

1,057

1,2061,2751,3671,4781,317

1,2031,1051,2981,5441,670

1,7142,0062,1472,3522,478

2,7352,691

Com-merceand

trans-porta-tion

277

4

662

454577

,600,211,725

,143886655

,218,618

,759,625,888,926,219

,225,892,305,632

2,025

L.9632,5732,7742,8433,002

},3722,804

Hous-ingandcom-mun-ity

devel-op-

ment

-148

35129215309316

-185-193

35694

295

268531593396

-628

136- 1 0

-11830

970

122320349

- 6 7- 8 0

-28010

Health,laborand

welfare

3,866

3,0002,5361,9261,132

881

864865

1,1481,2131,433

1,7901,8631,9162,0522,122

2,1652,4622,6323,0593,877

3,6904,2444,5384,7895,475

6,2088,328

Edu-cation

41

4143474794

15479626867

78103191320326

377343437541732

866943

1,0761,2441,339

1,5092,663

Veter-ans

bene-fitsand

services

560

552566558606745

2,0954,4157,3816,6536,725

6,6465,4004,9334,3684,341

4,5224,8104,8705,1845,287

5,2665,4145,4035,1865,492

5,3834,623

In-terest

950

1,0561,1231,2721,8252,623

3,6624,8165,0125,2485,445

5,8175,7145,9346,5836,470

6,4386,8467,3077,6897,671

9,2669,0509,1989,980

10,765

11,28611,594

Gen-eralgov-ern-

ment

335

370409515825989

8801,0471,3531,2631,054

1,1701,3071,4451,4611,226

1,1661,5761,7381,2841,466

1,5421,7091,8751,9792,280

2,4172,462

Allow-ances

forcon-tin-gen-ciess

103507

Inter-fundtrans-fers*

-80

-14-101-933-236-433

139955196

-501239

267-793-961-154-235

-181-315-467-567-355

-694-654-633-513-664

-833-600

1 For surplus or deficit on Federal administrative budget receipts and expenditures, see Table B-59.2 Beginning 1954 includes the expenditures for Food for Peace, previously classified under Agriculture

and Agricultural Resources.3 Includes allowance of $3 million in 1965 and $107 million in 1966 for Appalachia.4 Includes adjustment to Daily Treasury Statement prior to 1953.s Less than $500,000.6 Estimate.Sources: Treasury Department and Bureau of the Budget.

259


TABLE B-59.—Federal administrative budget receipts and expenditures and the public debt, 1929-66


Fiscal or calendar year

Fiscal year:1929.—.. .

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1965«1966 ».

Calendar year:19481949

1950 -19511952.19531954

19551956195719581959

196019611962..19631964*

Netbudget

receipts'

3,861

4,0583,1161,9241,9973,015

3,7063,9974,9566,5884,979

5,1377,096

12,54721,94743,563

44,36239,65039,67741,37537,663

36,42247,48061,28764,67164,420

60,20967,85070,56268,55067,915

77,76377,65981.40986.37689,459

61,20094,400

40,80037.464

37,23552.87764.70563, 654

63,11970,61671, 74968.26272.738

79,51878,15784,70987.516

Budgetexpendi-

tures

3,127

3,3203,6774,6594,5986,645

6,4978,4227,7336,7658,841

9,05513,25534,03779,36894,986

738-462

-2,735-2,602-3,630

-2,791-4,425-2,777-1,177-3,862

-3,918-6,159-21,490-57,420-51,423

60,3(26

32,95539,474

39,54443,97065,30374,12067,637

64.38966,22468,96671,36980,342

76,63981.51587.78792,64297,684

97,48199,687

35.55941,056

37.65756. 23670,54772.81164,622

65,89166.83871,15775.34979,778

77.56584.46391.90794.18896,945

Surplusor

deficit ( - )

734

-53,941-20,676

7548,419

-1,811

-3,1223,510

-4,017-9,449-3,117

-4,1801,6261.596

-2,819-12,427

1,224-3,856-6,378—6.266-8,226

-6,281-5,287

5,241-3,592

-422-3,358-5,842-9,157-3,683

-2,7713,779

592-7,088-7,040

1,953—6,306-7,190-6.672-8,248

Public debtat end of

year*

16,931

16,18616,80119,48722.63927,734

32,82438, 49741,08942,01845,890

48,49755,33276,991140, 796202,626

259,115269,898258,376252,366252, 798

257,377255,251259.151266,123271,341

274,418272,825270. 634276,444284,817

286,471289, 211298,645306,466312, 526

316,900322,500

252.854257,160

256, 731259.461267, 445275, 244278. 784

280,822276, 731275,002283,031290,925

290,373296,499303,988310,089318, 750

1 Gross receipts less refunds of receipts and transfers of tax receipts to the old-age and survivors insurancetrust fund, the disability insurance trust fund, the railroad retirement account, the unemployment trustfund, and the highway trust fund. *

2 Includes guaranteed issues. The change in the public debt from year to year reflects not only the budgetsurplus or deficit but also changes in the Government's cash on hand, and the use of corporate debt andinvestment transactions by certain Government enterprises.

* Estimate.«Preliminary.

Sources: Treasury Department and Bureau of the Budget.

260


TABLE B-60.—Government cash receipts from and payments to the public, 7946-66


Fiscal or calendar year

Fiscal year:194619471948 -1949

19501951195219531954

19551956195719581959

19601961196219631964

1965 <1966«


1950 - — -1951195219531954

19551956195719581959

1960 .196119621963. - . . - .1964«

Total

Cashre-

ceipts

54.255.659.657.6

58.272.588.793.995.6

93.5105.8113.5115.0117.0

134.5139.4147.2159.0168.6

52.957.460.057.9

60.479.193.093.593.3

98.4110.2116.8115.9124.6

139.3142.0154.2163.9170.2

Cashpay-

ments

70.247.550.256.3

61.565.288.999.196.1

97.5101.5111.8118.3132.3

132.9141.5152.8161.1170.8

50.950.751.859.8

61.178.393.6

100.495.3

100.2105.2116.7125.1133.1

135.4148.7157.7166.1173.6

Excessof re-ceiptsor ofpay-

ments

—16.08.19.41.3

-3.37.3

—.2- 5 . 2- . 4

- 4 . 04.21.7

-3 .3-15.3

1.6-2 .1-5 .6-2 .0- 2 . 2

2.06.78.2

- 1 . 8

—.6. 9

- . 6- 6 . 9-2.0

-1.85.1.1

- 9 . 3- 8 . 5

3.9-6 .7-3 .6-2 .2-3 .3

Cashre-

ceipts

43.543.545.441.6

40.953.468.071.571.6

67.877.182.181.981.7

95.197.2

101.9109.7115.5

117.4123.5

41.444.344.941.3

42.459.371.370 268.6

71.480.384.581.787.6

98.397.9

106.2112.6115.0

Federal i

Cashpay-

ments

61.736.936.540.6

43.145.868.076.871.9

70.572.580.083.594.8

94.399.5

107.7113.8120. 3

121.4127.4

41.438.636.942.6

42.058.072.077.469.7

72.274.783.489 095.6

94.7104.7111.9117.2120.9

•

Excessof re-ceiptsor ofpay-

ments

—18.26.68.91.0

- 2 . 27.6

-5 .3.2

-2.74.52.1

- 1 . 613.1

.8- 2 . 3-5 .8-4 .0-4 .8

- 4 0-3 .9

.16.78.0

—1.3

. 51.2

. 6- 7 . 2- 1 . 1

—.75.61.1

- 7 . 2- 8 . 0

3.6-6 .8—5.7-4 .6- 5 . 8

State and local >

Cashre-

ceipts

10.712.114.216.0

17.319.120.722.424.0

25.728.731.433.135.3

39.442.245.349.353.2

11.413.115.116.6

18.019.921.723.224.7

26.929.932.334.137.1

41.144.048.051.355.2

CashPay-

ments

8 510.613.715.7

18.419 420 922.324.2

27.029 031.834.837.6

38.642 045.147.350.7

9.612.114.917.1

19.120.221.623 025.6

28.030.433 336.237.5

40.744.045 949.052.7

Excessof re-ceiptsor ofPay-

ments

2 21 6

.5•3

- 1 . 1— 3—.2

.1- . 2

- 1 . 3— 3—.4

- 1 . 7- 2 . 2

.82

. 22.02.5

1.91.0. 2

—.5

—1.1- . 4

. 1

.3— £

—1.1- . 5

—1.0- 2 . 1

- . 5

. 3

.12.12.42.5

i For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June SO, 1966, and Table B-63.

* Estimated by Council of Economic Advisers from receipts and expenditures in the national incomeaccounts. C&sh receipt? consist of personal tax and nontax receipts, indirect business tax and nontaxaccruals, and corporate tax accruals adjusted to a collection basis. Cash payments are total expendituresless Federal grantc-in-aid and less contributions for social insurance. (Federal grants-in-aid are thereforeexcluded from State and local receipts and payments and included only in Federal payments.) SeeTable B-61.

« Surplus of $49 million.< Estimate.8 Preliminary.Sources: Treasury Department, Bureau of the Budget, Department of Commerce (Office of Business

Economics), and Council of Economic Advisers.

261


T A B L E B-61.—Government receipts and expenditures in the national income accounts y 1929-64


Calendar year or quarter

1929..

1930—1931 —1932-1933-1934..

1935—1936...1937...1938...1939-

1940-1941...1942-1943-1944-

1945-1946-1947—1948...1949-

1950-1951...1952—1953-1954...

1955-1956..1957..1958-1959..

I960—1961..1962..1963..1964 3.

1962: I-..II...III..IV..

1963: I....II._III..IV..

1964: I-...II-.III-.IV 3

Total government

Re-ceipts

11.3

10.89.58.99.3

10.5

11.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159.256.4

85.590.694.990.0

101.4109.5116.3115.1130.2

140.6145.6157.8168.9173.3

Ex-pendi-tures

154.3157.1158.9161.1

164.3167.5169.7174.0

172.7171.1173.9

10.2

11.012.310.610.712.8

13.315.914.816.617.5

18.528.864 093.4103.1

92.947.043.851.059.5

61.179.494.4102.096.7

98.6104.3115.3126 6131.6

136.7149 8159.8168.0176.2

Sur-plus ordeficit(-)onincome

andprod-

uct ac-count

1.0- . 3

-2.8-1.7-1.4-2.4

-2.0-3.0

.6-1.6-2.1

- . 7-3.8

-31.4-44.2-51.9

-39 .74.1

13.38.2

-3.1

8.26.1

-3.9- 7 . 1- 6 . 7

2.95.21.0

-11.4- 1 . 5

3.9- 4 . 2- 1 . 9

.9- 2 . 9

Federal Government»

Re-ceipts

3.8

3.02.0J.72.73.5

4.05.07.06.56.7

8.615 422 939.341.0

42.539.243.343.439.1

50.264.567.770.363.8

72.877.581.778.590.3

96.698.3

106.4113.6113.9

Ex-pendi-tures

2.6

2.84.23.24.06.4

6.58.57.28.59.0

10.120.556.186.095.6

84.837 031.135.441.6

41.058 071 677.7

71.879.787 991.4

m i102.6110.4115.2119.2


andprod-

uct ac-count

1.2.3

-2.1-1.5-1.3-2.9

-2.6-3.5- . 2

-2.0-2.2

-1.4-5.1

-33. 2-46.7-54.6

-42.32.2

12.28.0

-2.5

9.26 4

- 3 . 9- 7 . 4- 5 . 8

3.85.72.0

- 9 . 4- 1 . 1

3.5- 4 . 3- 4 . 1- 1 . 5- 5 . 3

State and localgovernment

Re-ceipts

7.6

7.87.77.37.28.6

9.18.69.19.3

10 010 410 610.911.1

11.613 015.517.819.6

21.423.525.527.429.1

31.735.238.642 046.6

50.454.559.564.469.7

Ex-pendi-tures


7.7

8.48.47.67.28.1

8.58.18.48.99.6

9.29.08.88.48.4

9.011.114.417.620.2

22 423 825.427.130.1

32.735.739.644.147.0

50. 054.457.362.067.3


andprod-

uct ac-count

157.4158.9159.3163.4

167.1165.9168 0170.7

172.7176.6176.9178.5

- 3 . 1- 1 . 8- . 4

- 2 . 2

- 2 . 81.61.73.3

(<)- 5 . 5- 3 . 0(5)

104.1106.0107.0108.3

110.5112.9114.2117.2

114.8112.3114.0(5)

108.4110.6109.9112.8

115.3113.9114.9116.6

117.2120.2119.2120.3

- 4 . 4- 4 . 6- 2 . 9- 4 . 5

- 4 . 8- 1 . 0- . 7

.6

- 2 . 4- 7 . 8- 5 . 2(5)

58.059.159.861.1

62.363.464.966.7

67.869.270.6(5)

56.756.257.458.9

60.360.862.464.0

65.366.968.368.8

-0 .1

- . 5- . 7- . 2

(8).5

.6

.5

.7

.4

.1

.71.31.82.52.7

2.61.91.1.3

- . 6

- 1 . 0- . 3

.1

.3- . 9

- 1 . 0- . 5

- 1 . 0- 2 . 1

- . 3

.4

.12.12.42.4

1.22.82.52.3

2.02.62.42.7

2.42.32.3

* See Note, Table B-62.a Deficit of $35 million.3 Preliminary estimates.* Less than $50 million.5 Not available.NOTE.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and

State and local receipts and expenditures. Total government receipts and expenditures have been adjustedto eliminate this duplication.

Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

262


TABLE B-62.—Federal Government receipts and expenditures in the national income accounts1946-66


Year or quarter

Fiscal year:1946194719481949

1950.. .1951. . .1952.. .1953. . .1954.. .

1955.. .1956....1957...1958.. .1959.. .

1960. . .1961. . .1962. . .1963. . .1964. . .

1965 K.1966 2..


1950...1951...1952...1953...1954...

1955...1956...1957...1958...1959...

1960...1961-..1962...1963...1964 3..

Calendar quarter1962: I

IIIIIIV

1963: IIIIIIIV

1964: IIIIIIIV 3

Receipts

Total

37.342.943.740.142.061.765.569.965.967.076.380.977.885.994.595.4

104.3109.6114.7116.0121.0

39 243.343 439.1

50.264.567 770.363.8

72.877.581.778.590.396.698.3

106.4113.6113.9

Per-sonaltaxandnon-taxre-

ceipts

Cor-po-rate

profitstaxac-

cruals

16.918.820.016.316.523.529.031.530.429.933.536.736.338.742.344.247.750.151.450.352.2

17.219.619.016.218.226.331.232.429.231.535.237.336 640.444.045.149.151.949.0

7.210.711.210.9

11.721.819.319.817.118.421.020.417.321. 121.719.721.922.123.523.924.7

8.610.711.89.8

17.121.618.619.416.520.920.219.917.722.021.020.921.823.024.0

Indi-rectbusi-nesstaxandnon-taxac-cru-als

7.47.98.08.18.39.69.9

11.010.710.411.212.112.012.313.913.614.915.216.016.816.1

7.97.98.18.29.09.5

10.511.210.111.011.612.211.913.014.014.115.115.616.4

Con-tribu-tionsfor

socialinsur-

5.85.54.64.85.56.67.37.67.78.3

10.511.712.313.816.718.019.722.123.825.028.0

5.55.14.54.95.97.17.47.48.19.3

10.612.212.414.9

17.618.220.523.024.5

Expenditures

Total

56.631.732.340.042.245.366.676.274.568.169.576.582.890.392.197.8

106.2112.3118.5121.0127.0

37.031.135.441.641.058.071.677.769.668.971.879.787 991.493.1

102.6110.4115.2119.2

Pur-chases

ofgoodsandserv-ices

41.416.916.621.820.026.547.756.853.945.045.248.350.563.953.054.960.063.666.165.966.7

20.615.619.322.219.338.852.958 047.545.345.749.752.653.653.157.462.964.765.6

Transferpayments

Toper-

8.78.1

11.38.28.79.4

10.612.212.914.618.120.421.324.326.227.628.8

For-eign(net)

Grants-in-aid

to Stateandlocal

govern-ments

.62.93.12.3.8.7.3.6.3.5.3.4.6.6.6.6.6

31.835.2

9.28.97.78.8

10.98.78.99.7

11.612.513.516.020.020.622.225.826.728.329.3

.3

.11.63.22.82.11.5.6.4.5.5.5.3.5

.8


104.1106.0107.0108.3110.5112.9114.2117.2114.8112.3114.00)

47.548.949.650.250.751.552.253.451.247.348.249.3

21.421.621.722.322.023.023.024.423.924.424.40)

15.015.115.015.115.415.515.715.915.916.416.616.7

20.220.420.620.722.522.923.223.523.924.224.725.0

108.4110.6109.9112.8115.3113.9114.9116.6117.2120.2119.2120.3

61.463.662.463.865.164.364.464.964.367.165.565.7

26.326.326.627.628.627.928.028.629.529.129.129.4

. 8

.5

.5

.6L.5.6

L.6.7.5.6.7. 2

7.88.07.98.38.58.79.49.99.8

10.410.610.7

6.87.07.37.47.67.57.87.98.38.48.48.4

4.34.24.14.04.03.93.73.53.73.63.94.0

- 4 . 4- 4 . 6- 2 . 9-4 .5-4 .8-1 .0- . 7

.6-2 .4-7 .8- 5 . 20)

0.91.51.82.12.42.42.52.82.82.93.13.64.56.06.76.87.68.39.8

10.713.0

1.11.72.02.22.32.52.62.82.93.03.34.15.46.76.37.28.09.1

10.4

Netin-ter-est

paid

Subsi-dieslesscur-rentsur-plusof

gov-ern-mententer-prises

3.9L2L2

4.3L4L6L8

4.84.9

4.95.05.65.65.86.96.96.87.48.18.5

4.24.24.34.4

4.54.74.74.85.04.95.25.75.66.47.16.77.17.78.4

2.3.7.4.8

1.01.31.1.9

1.01.41.93.12.72.72.73.34.03.84.14.13.5

1.6.6.6.7

1.21.31.0.8

1.21.62.72.83.02.52.83.94.23.83.8

Sur-plusor

defi-cit(-)onin-

comeand

prod-uctac-

count

-19.311.211.4

.2- . 216.3

-1 .1-6 .3-8 .6-1 .1

6.84.4

-4 .9-4 .4

2.4-2 .4-1 .9-2 .8-3 .9-5.0-6.0

2.212.28.0

-2 .59.26.4

-3 .9-7 .4-5 .8

3.85.72.0

-9.4-1 .1

3.5-4 .3-4 .1-1 .5-5 .3

i Not available. a Estimate. 3 Preliminary estimates.NOTE.—These accounts, like the cash budget, include the transactions of the trust accounts. Unlike

both the administrative budget and the cash statement, they exclude certain capital and lending trans-actions. In general, they do not use the cash basis for transactions with business. Instead, corporateprofits taxes are included in receipts on an accrual instead of a cash basis; expenditures are timed with thedelivery instead of the payment for goods and services; and CCC guaranteed price-support crop loan sfinanced by banks are counted as expenditures when the loans are made, not when CCC redeems them.

Data for Alaska and Hawaii included beginning 1960.Sources: Department of Commerce (Office of Business Economics) and Bureau of the Budget.

263


TABLE B—63.—Reconciliation of Federal Government receipts and expenditures in the administra-tive budget and the consolidated cash statement with receipts and expenditures in the national income

accounts, fiscal years 1962-66

{Billions of dollars!

Receipts or expendituresFiscal years

1962 1963 1964 1965 i 1966

RECEIPTS

Administrative Budget receipts_

Plus:

Intragovernmental transactionsReceipts from exercise of monetary authorityTrust fund receipts _

Equals: Federal receipts from the public (consolidated cashreceipts)

Adjustments for agency coverage:Less: District of Columbia revenues.. _ -

Adjustments for netting and consolidation:Less: Interest, dividends, and other earningsPlus: Contributions to Federal employees' retirement

funds, etc — - ---Adjustments for timing:

Plus: Excess of corporate tax accruals over collections;personal taxes, social insurance contributions,etc

Adjustments for capital transactions:s

Less: Realization upon loans and investments, sale ofGovernment property, etc -

Equals: Receipts—National income accounts.

EXPENDITURESAdministrative Budget expenditures. _ _.

Less: Intragovernmental transactionsAccrued interest and other non-cash expenditures

(net)Plus: Trust fund expenditures (including Government-

sponsored enterprise expenditures net)

Equals: Federal payments to the public (consolidated cashexpenditures)

Adjustments for agency coverage:Less: District of Columbia expenditures

Adjustments for netting and consolidation:Less: Interest received and proceeds of Government sales.Plus: Contributions to Federal employees' retirement

funds, etcAdjustments for timing:

Plus: Excess of interest accruals over payments onsavings bonds and Treasury bills

Excess of deliveries over expenditures and mis-cellaneous items * _

Less: Commodity Credit Corporation foreign currencyexchanges. _

Adjustments for capital transactions:1

Less: Loans—Federal National Mortgage Association,foreign assistance, redemption of InternationalMonetary Fund notes, etc

Purchase of land and existing assets....

Equals: Expenditures—National income accounts..

81.4

.124.3

101.9

.2

.5

1.7

1.9

.5

104.3

87.8

3.8

1.5

25.1

107.7

.3

.5

1.7

.7

1.6

3.5

106.2

86.4

4.3

27.7

109.7

.3

1.5

1.9

.5

.8

109.6

92.6

4.3

1.2

26.5

113.8

.3

1.5

1.9

.9

.2

.7

1.4.4

112.3

4.2.1

30.3

115.5

.3

1.4

2.0

- . 7

.6

114.7

97.7

4.2

2.0

28.9

120.3

.3

1.4

2.0

.9

1.5

.6

3.4.5

118.5

91.2

4.2.1

30.5

117.4

.3

1.9

2.1

.4

116.0

97.5

4.2

.9

29.0

121.4

.4

1.9

2.1

.8

1.7

.8

1.4.5

121.0

94.4

4.4.1

33.6

123.5

.3

2.1

2.2

- 1 . 8

.5

121.0

99.7

4.4

.8

32.9

127.4

.4

2.1

2.2

.6

1.2

.7

.7

.5

127.0

» Data for 1965 and 1966 are estimates.* Less than $50 million.» Consist of transactions in financial assets and liabilities, land and secondhand assets. Acquisition of

newly produced tangible assets are included in expenditures for goods and services as defined in the nationalincoTre and product accounts.

4 Includes increase in clearing account.

NOTE.—Data for Alaska and Hawaii included.

Sources: Bureau of the Budget and Department of Commerce, Office of Business Economics.

264


T A B L E B-64.—State and local government revenues and expenditures, selected fiscal years, 7927-63


Fiscal year *

Revenues by source *

TotalProp-ertytaxes

Salesandgross

re-ceiptstaxes

Indi-vidualincometaxes

Corpo-ration

netincometaxes

Reve-nuefromFed-eralGov-ern-ment

Allotherreve-nue 3

Expenditures by functions

Total Edu-cation

High-ways

Publicwel-fare

Allother <

1927..

1932-1934..1936..1938..

1940..1942-1944-1946-1948..

1950-1952-1953..1954-

1955-1956—1957-1958-1959--

I960-..1961—1962—

7,271

7,2677,6788.3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729. 012

31,07334,66738,16441,21945,306

50, 50554,03"58,25262,890

4,730

4,4874,0764,0934,440

4,4304,5374,6044,6,126

7,3498.6529,3759,967

10. 73511, 74912.86414, 04714,983

16, 40518,00219,05420,089

470

7521,0081,4841,794

1.9822,3512,289

4,442

5,1546.3576,9277,276

7,6438.6919.4679,82910, 437

11. 84912,46313,49414,456

70

7480153218

224276342422543

788998

1,0651,127

1,2371, 5381.7541,7591,994

2,4632,6133,0373,269

92

7949113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,1,3081,505

116

2321,016948800

945-858954855

1.861

2,4862,5662,8702,966

3.1313.3353,8434,6,377

6,9747,1317,8718,722

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848.4659,2529,69910,516

11, 63412,56313,48914, 850

7,210

7,7657,1817,6448,757

9,2299,1908,86311,02817,684

22,78726,09827,91030, 701

33, 72436,71140,37544,85148,887

51. 87656,20160, 20664,816

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,39010,557

11,90713,22014,13415. 91917,283

18, 71920, 57422,21624,012

1,809

1,7411,5091,4251,650

1,5731,4901,2001,672

3,8034,6504,9875,527

6, 4526,9537,8168,5679,592

9,4289,84410,35711,136

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,4853,8184,136

4,4044,7205,0845,481

3,015

.3,2692.9523,2153,547

3,8623,8893,7374,5917,170

8,86710,34210,61911,557

12,19713,39914,94016,54717,876

19. 32421,06322, 54924,187

1 Fiscal years not the same for all governments.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust

activities. Intergovernmental receipts and payments between State and local governments are alsoexcluded.

3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation,

housing and community redevelopment, local parks and recreation, general control, financial administra-tion, interest on general debt, and other and unallocable expenditures.

NOTE.—Data are not available for intervening years.Data for Alaska and Hawaii included beginning 1959 and 1960, respectively.See Table B-54 for net debt of State and local governments.


265


CORPORATE PROFITS AND FINANCETABLE B-65.—Profits before and after taxes, all private corporations, 7929-64


Year or quarter

1929

19301931193219331934

19351936193719381939

19401941194219431944

1945194619471 9 4 8 . . .1949

19501951195219531954

1955195619571958 . . .1959

I9601961

1963 31964 3*5

1962: I . .IIIIIIV..

1963: I -IIIIIIV

1964: I . . . .IIIIIIV

Corporate profits (before taxes) andinventory valuation adjustment

Allindus-tries

10.1

6.61.6

-2.0-2.0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323 630.828.2

35.741.037.737.333.7

43.142.041.737.247.2

44.544.148.450.857.0

Manufacturing

Total

5.1

3.91.3

- . 6— .5

.9

2.03.13.62.23.2

5.49.3

11.713.713.0

9.58.4

12.816.815.3

20.424.421.121.418.4

25.023.522.918.325.4

23.021.724.726.730.7

Dura-ble

goodsindus-tries

2.6

1.5

- 1 . 1- . 5

.2

.91.71.7.7

1.6

3.06.37.18.07.3

4.52.15.37.47.9

12.013.511.812.110.1

14.212.613.19.0

13.4

11.610.913.214.416.5

Non-durablegoodsindus-tries

2.5

2.41.3.4

.7

1.11.42.01.41.5

2.33.04.55.65.7

5.06.37.49.47.4

8.410.99.39.38.3

10.810.99.89.3

11.9

11.410.811.512.314.2

Transpor-tation,

commu-nication,

andpublic

utilities

2.0

1.2. 6.2.1. 4

. 5

.7

.8

. 61.0

1.32.03.54.43.9

2.81.82.12.92.9

4.04.54.84.94.4

5.45.65.55.66.7

7.07.38.08.48.9

Allotherindus-tries

3.0

1.5- . 2

- 1 . 5—1.5- . 2

. 51.21.81.51.5

2.43.24.55.76.1

6.17.18.7

11.210.1

11.312.011.811.011.0

12.812.913.313.315.1

14.415.115.715.717.4

Corpo-rate

profitsbeforetaxes

9.6

3.3- . 8

- 3 . 0.2

1.7

3.15.76.23.36.4

9.317.020.924.623.3

19.022.629.533.026.4

40.642.236.738.334.1

44.944.743.237.447.7

44.344.248.251.357.2

Corpo-ratetax

liabil-ity i

1.4

.8

. 5

.4

.5

. 7

1.01.41.51.01.4

2.87.6

11.414.112.9

10.79.1

11.312.510.4

17.922.419.520.217.2

21.821.220.918.623.2

22.322.323.224.625.6

Corporate profitsafter taxes

Total

8.3

2.5—1.3- 3 . 4- . 41.0

2.24.34.72.35.0

6.59.49.5

10.510.4

8.313.418.220.516.0

22.819.717.218.116.8

23.023.522.318.824.5

22.021.925.026.731.6

Divi-dendpay-

ments

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.112.612.413.7

14.515.216.518.019.8

Undis-tributedprofits

2.4

—3 0—5 4- 6 . 0—2 4— 1 6

— 7- . 2

- . 91.2

2.44 95.26 05 7

3 67.7

11 713.38.5

13 610.78 38.97.0

11.811.39.76.4

10.8

7 56.78.58.7

11.8


47.148.048.350.3

49.150.251.453.1

56.457.958.1

24.024.024.826.1

24.726.627.827.8

30.631.731.2

12.812.713.513.8

13.214.514.715.4

16.617.016.9

11.211.311.312.3

11.612.113.112.4

13.914.814.3

7.78.18.08.2

8.18.38.48.7

8.58.89.3

15.515.815.416.0

16.215.315.216.6

17.417.417.6

47.247.948.149.4

48.951.151.354.3

56.657.958.0

22.723.023.123.8

23.424.524.526.0

25.426.026.0

24.524.925.025.7

25.526.626.728.3

31.231.932.0

16.116.416.517.1

17.217.717.919.1

19.419.820.020.2

8.48.58.58.6

8.38.98.99.2

11.812.112.0

1 Federal and State corporate income and excess profits taxes,a Less than $50 million.3 The new figures for 1962,1963, and 1964 reflect the new depreciation guidelines issued by the Treasury De-

partment July 11, 1962, and the investment tax credit provided in the Revenue Act of 1962.4 Preliminary estimates.8 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.• Not available.Source: Department of Commerce, Office of Business Economics.

266


TABLE B-66.—Relation of profits before and after taxes to stockholders' equity and to sales•,private manufacturing corporations, by asset size class, 1958-64 *

Year orquarter

19581959

19601961 _19621963

1961: IIIIIIIV

1962: IIIIIIIV _...

1963: III __IIIIV

1964: I ._ _IIIII

19581959

1960196119621963

1961: IIIIIIIV

1962: IIII l lIV

1963: I

I l lIV

1964: I . .IIIII

Asset size class (millions of dollars)

All assetsizes Under 1 l t o 10 10 to 100 100 to 1,000 1,000 and

over

Ratio of profits (annual rate) to stockholders* equity—percent

Beforetaxes

15.118.5

16.415.617.318.2

12.616.815.818.5

16.718.916.618.1

16.019.917.819.9

18.521.419.0

Aftertaxes

8.410.2

9.18.79.6

10.1

6.89.28.8

10.5

9.010.39.3

10.5

8.611.010.011.4

10.512.311.2

Beforetaxes

10.415.5

11.811.914.715.2

6.313.715.812.5

10.619.819.410.6

8.220.019.913.1

13.621.324.0

Aftertaxes

4.58.2

5.55.58.18.2

.96.88.46.3

4.611.711.35.4

2.511.911.56.9

7.413.315.5

Beforetaxes

13.717.4

13.413.816.016.0

8.314.716.816.1

14.018.118.115.1

12.217.718.316.0

15.420.320.6

Aftertaxes

6.28.5

6.06.37.67.6

2.66.98.27.7

5.98.88.87.4

5.18.69.07.8

7.210.411.0

Beforetaxes

15.519.516.315.216.616.8

11.816.316.317.3

14.617.817.117.0

13.718.017.818.115.619.720.3

Aftertaxes

7.89.9

8.27.68.48.5

5.68.38.18.9

7.19.08.68.9

6 69.19.09.3

7.910.510.8

Beforetaxes

16.719.1

17.216.316.817.6

13.917.117.118.3

16.318.116.417.5

15.619.118.118.9

17.420.319.4

Aftertaxes

8.910.2

9.48.99.19.6

7.59.19.2

10.3

8.69.78.79.9

8.310.39.8

10.6

9.711.411.0

Beforetaxes

14.718.3

17.616.619.020.5

14.418.013.621.4

20.120.215.621.5

20.022.417.024.1

22.523.616.9

Aftertaxes

10.211 4

11.110.711.712.6

9.511.29.2

13.5

12.111.89.9

13.8

12.113.310.814.9

13.814.411.1

Profits per dollar of sales—cents

Beforetaxes

7.48.8

8.07.78.28.5

6.58.07.78.5

8.08.67.98.2

7.79.08.38.9

8.69.58.7

Aftertaxes

4.24.8

4.44.34.54.7

3.54.44.34.8

4.34.74.44.8

4.25.04.65.1

4.95.55.1

Beforetaxes

2.33.3

2.62.63.23.2

1.42.93.42.6

2.34.14.12.2

1.84.04.02.6

2.94.34.8

Aftertaxes

1.01.7

1.21.21.71.7

.21.51.81.3

1.02.42.41.1

.62.42.31.4

1.62.73.1

Beforetaxes

5.15.9

4.74.75.25.1

3.04.85.55.1

4.75.65.74.7

4.05.55.75.0

5.06.16.3

Aftertaxes

2.32.9

2.12.12.52.4

.92.32.72.5

2.02.72.82.3

1.72.72.82.4

2.33.13.3

Beforetaxes

7.59.1

7.77.37.67.6

6.07.67.77.9

7.08.07.87.6

6.58.08.08.0

7.18.48.6

Aftertaxes

3.84.7

3.93.73.83.9

2.83.93.84.1

3.44.03.94.0

3.14.14.04.1

3.64.54.6

Beforetaxes

8.69.6

8.88.38.38.6

7.48.48.58.9

8 08.68.18.3

7.89.08.68.8

8.59.59.2

Aftertaxes

4.65.1

4.84.54.54.7

4.04.54.65.0

4.34.64.34.7

4.24.84.64.9

4.75.35.2

Beforetaxes

11.613.7

12.813.113.714.311.613.611.415.214.214.012.014.414.014.812.715.5

14.714.912.0

Aftertaxes

8.08.6

8.18.48.48.8

7.78.57.79.5

8.58.27.69.2

8.58.88.19.6

9.09.17.9

1 Based on 1957 Standard Industrial Classification.NOTE.—Data on a comparable basis are not available for earlier periods. For explanatory notes concern-

ing compilation of the series, see Quarterly Financial Reports for U.S. Manufacturing Corporations, FederalTrade Commission and Securities and Exchange Commission.

Data for Alaska and Hawaii included for all periods.

Sources: Federal Trade Commission and Securities and Exchange Commission.

267


TABLE B-67.—Relation of profits after taxes to stockholders'' equity and to sales, private manu-facturing corporations, by industry group, 195&-641

Year orquarter

Allpri-:vateman-ufac-tur-ingcor-

pora-tions

Durable goods industries

Totaldur-able

Lum-berand

woodprod-ucts(ex-cept

furni-ture)

Fur-nitureandfix-

tures

Stone,clay,andglassprod-ucts

Pri-maryironandsteelin-

dus-tries

Pri-marynon-fer-rousmetalin-

dus-tries

Fab-ri-

catedmetalprod-ucts

Ma-chin-ery(ex-ceptelec-

trical)

Elec-tricalma-chin-ery,

equip-ment,'and jsup- jplies |

Mo-tor

vehi-clesand

equip-ment

Air-craftand

parts

In-stru-

mentsandre-

latedprod-ucts

Mis-cella-neousman-ufac-tur-ing(in-

clud-ingord-

nance)

1958195919601961 -19621963

1961: I—II-.III.IV.

1962: I...I I -III.IV.

1963: I—II..III.IV.

1964: I. . .II..III

1958.1959.

I960.1961.1962.1963.

1961: I—.I I -III-V

1962: I—.I I -III-IV..

1963: I—I I -III.IV.

1964: I . . . .II. . .III.

8.410.2

9.18.79.6

10.1

6.89.28.8

10.5

9.010.39.3

10.5

8.611.010.011.4

10.512.311.2

Ratio of profits after Federal taxes {annual rate) to stockholders' equity—percent

7.810.1

8.48.09.5

10.0

5.28.97.8

10.4

8.910.88.5

10.2

8.211.79.3

11.3

10.613.410.8

5.69.2

3.73.95.78.1

- . 66.26.83.7

1.47.68.44.9

3.79.1

12.67.3

8.112.111.7

6.28.5

6.44.8

.7.78.2

-1.14.07.09.6

4.67.2

10.69.1

3.57.9

12.09.6

7.09.0

11.5

10.012.4

9.68.78.78.6

2.910.911.79.7

3.711.811.98.0

1.512.911.88.4

4.112.412.5

7.18.0

7.36.15.46.9

3.27.06.48.0

7.65.83.45.0

5.19.65.57.8

7.69.48.0

5.97.8

7.27.07.47.6

6.18.06.18.1

8.28.85.87.3

6.98.16.98.6

9.210.48.4

7.37.8

5.56.07.88.1

2.57.37.76.2

6.39.88.66.9

5.98.9

10.08.3

7.411.011.4

6.89.6

7.57.78.99.6

5.79.17.88.5

8.110.89.28.2

7.911.19.79.7

10.713.912.9

9.911.9

9.28.89.79.9

7.38.28.1

12.0

9.210.49.2

11.0

9.210.29.6

11.2

9.710.811.0

8.114.1

13.311.315.916.4

8,013.26.3

18.1

16.818.3

9.320.6

17.319.69.4

20.6

20.322.59.2

12.78.0

7.29.2

12.211.1

7.210.210.910.8

12.312.711.813.9

10.312.911.510.6

10.412.812.9

10.312.6

11.110.211.911.9

7.19.9

11.613.5

9.812.612.013.5

8.811.512.815.0

11.513.915.6

Profits after taxes per dollar of sales—cents

4.24.8

4.44.34.54.7

3.54.44.34.8

4.34.74.44.8

4.25.04.65.1

4.95.55.1

3.94.8

4.03.94.44.5

2.74.23.84.7

4.24 .84.04.5

3.95.04.34.8

4.85.64.9

2.84.2

1.71.92.53.3

- . 32 .93.01.7

. 73.23.42.1

1.73.54.62.8

3.44.54.4

2.02.7

2.11.62.32.4

- . 41.32.12.9

1.52.13.12.6

1.12.33.32.6

2.12.63.2

6.87.9

6.65.85.65.3

2.46.87.06.2

2 .86.96.84.9

1.27.26.55.0

2.86.86.8

5.45.4

5.14.63.94.8

2.75.04.65.7

4.94.02.63.8

3.75.84.05.6

5.25.95.1

4.75.8

5.45.35.55.3

4.85.94.85.8

5.86.24 .55.4

5.05.65.05.7

6.36.75.7

3.13.2

2.42.53.13.2

1.23.03.12.4

2.73.83.32.7

2.53.43.73.1

3.04.04.1

3.74.8

3.94.14.54.7

3.24.64.24.4

4.35.14.64 .1

4.15.14.84.7

5.26.16.0

3.84.4

3.53.53.73.8

2.93.23.34.3

3.53.83.64.0

3.53.83.74.1

3.84.04.2

4.06.3

5.95.56.96.9

4.15.83.87.5

7.17.44.97.8

7.07.64.97.5

7.98.44.7

2.41.6

1.41.82.42.3

1.41.92.02.0

2.32.32.22.6

2.12.62.32.1

2.12.62.9

5.46.5

5.95.45.96.0

4.05.36.06.2

5.16.16.06.3

4.65.86.56.9

6.27.07.8


268


TABLE B-67.—Relation of profits after taxes to stockholders' equity and to sales, private manu-facturing corporations, by industry group, 1958-64l—Continued

Year or quarter

1958 - —1959

I960196119621963

1961: I - —IIHI — -IV -

1962* III -IIIIV . ~

1963* IIIIII

1964: I - - - _ ——IIIII

19581959 —

I9601961 —19621963

1961: IIIIIIIV.

1962: I . . . . . .II . .I l lIV

1963: IIIIIIIV .

1964: I —IIHI

Nondurable goods industries

Totalnon-dur-able

Foodandkin-dredprod-ucts

baccoman-ufac-tures

Tex-tilemill

prod-ucts

Ap-pareland

relatedprod-ucts

Paperand

alliedprod-ucts

Print-ingandpub-lish-ing(ex-cept

news-pa-

pers)

Chem-icalsand

alliedprod-ucts

Petro-leumrefin-ing

Rub-berandmis-cella-neousplasticprod-ucts

Leatherand

leatherprod-ucts

Ratio of profits after Federal taxes (annual rate) to stockholders' equity—percent

9.010.2

9.79.49.8

10.3

8.59.69.9

10.6

9.19.8

10.010.8

9.110.410.711.4

10.411.311.7

4.44.9

4.84.74.74.9

4.24.64.85.0

4.44.64.85.0

4.44.95.05.3

5.05.45.4

8.69.1

8.68.78.78.9

7.29.2

10.09.1

7.18.9

10.29.1

7.18.9

10.29.7

8.29.6

11.5

2.22.4

2.32.32.32.41.92.42.62.3

1.92.32.72.3

1.92.32.72.5

2.22.63.0

13.113.1

13.113.412.913.0

12.014.114.314.2

11.712.913.714.0

11.113.614.414.3

10.614.314.0

3.57.4

5.84.96.16.1

2.64.36.07.1

5.36.36.07.3

4.46.26.67.0

5.87.2

10.2

4.98.6

7.66.99.17.5

2.12.6

11.212.3

6.77.9

11.311.4

6.46.78.78.9

8.68.5

17.2

8.09.3

8.47.78.18.0

6.68.37.39.1

7.48.78.08.3

6.38.47.99.8

8.29.78.8

9.011.0

10.48.3

10.19.2

7.56.8

11.28.47.7

11.111.610.6

6.39.9

12.77.5

10.313.714.5

11.113.4

12.111.612.312.9

9.813.211.812.2

11.513.512.212.5

11.114.312.713.5

13.115.514.0

9.79.6

9.910.09.9

11.1

10.69.69.6

11.3

10.08.89.7

11.8

11.010.311.012.9

11.610.810.5

Profits after taxes per dollar of sales—cents

5.45.4

5.55.75* 75.9

5.35.75.95,9

5.45.55.86.1

5.35.86.16.3

5.36.16.0

1.63.0

2.52.1

2.3

1.21.82.52.7

2.22.52.42.8

1.82.42.52.5

2.32.73.7

1.01.5

1.41.3

1.4

.4

.51.82.1

1.31.41.91.9

1.21.21.51.6

. 1 .71.62.9

4.75.2

5.04.7

4.5

4.14.84.35.2

4.44.94.54.5

3.74.74.45.3

4.75.34.9

3.14.0

3.62.8

3.2

2.62.33.72.7

2.63.63.93.4

2.23.44.52.5

3.64.85.0

7.07.9

7.57.3

7.5

6.57.87.47.6

7.27.67.37.5

6.88.07.47.7

7.58.27.7

9.59.5

9.910.3

10.8

10.49.99.8

11.1

9.58.89.5

11.0

10.210.010.612.1

10.810.510.3

8.810.8

8.99.09.39.1

6.710.69.2

10.7

9.110.98.59.8

8.210.28.89.7

9.111.310.7

3.54.0

3.63.8

3.6

2.94.23.84.2

3.74.13.43.7

3.43.93.53.6

3.74.34.2

5.58.2

6.24.46.96.8

3.32.64.76.9

6.35.26.49.6

5.84.48.09.3

8.49.1

12.0

1.72.2

1.61.11 S1.8

.9

.71.21.6

1.61.41.62.4

1.51.22.12.3

2.12.42.9

i Based on 1957 Standard Industrial Classification.NOTE.—Data on a comparable basis are not available for earlier periods. For explanatory notes con-

cerning compilation of the series, see Quarterly Financial Reports for U.S. Manufacturing Corporations,Federal Trade Commission and Securities and Exchange Commission.

Data for Alaska and Hawaii included for all periods.Sources: Federal Trade Commission and Securities and Exchange Commission.

269


TABLE B—68.—Sources and uses of corporate funds, 1953-64 ]


Souice or use of funds

Sources, total -

Internal sources, total..Retained profits.—Depreciation.-

External long-term sources, totalStocksBonds . . .Other debt

Short-term sources, totalBank loans... __.Trade payables.. __Federal income tax liabilitiesOther

Uses, total.

Increase in physical assets, totalPlant and equipmentInventories (book value)

Increase in financial assets, total

ReceivablesConsumer..Other

Cash and U.S. Government se-curities

Cash (including deposits)U.S. Government securities.

Other assets

Discrepancy (uses less sources)

1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 19642

30.4

19.77.9

11.8

7.62 34.8.5

3.1- . 1

.4

.62.2

28.6

25.723.91.8

2.9

1.11.8

1.8

-1.8

22.2

19.86.3

13.5

6.42.13.8.5

-4.0-1 .1- . 2

-3 .1.4

23.8

20.822.4

-1.6

3.0

2.2

()2.3

-2.3

.8

1.6

50.3

26.610.915.7

8.62.74.21.7

15.13.75.53.82.1

50.6

30.924.26.7

19.7

11.93.38.6

5.01.23.8

2.8

47.9

27.810.517.3

11.13.24.73.2

9.02.25.5

-1.73.0

45.0

37.529.97.6

8.81.47.4

-4.3.2

-4.5

3.0

-2.9

42.5

28.08.9

19.1

11.93.57.01.4

2.6.3

2.4-2.2

2.1

40.3

34.832.72.1

5.5

4.5.9

3.6

—. d.1

- . 4

1.3

-2.2

39.4

26.05.7

20.3

10.93.65.91.4

2.6A

3! 8-2.5

1.7

35.3

24.026.4

-2.4

11.3

6.7- . 36.9

1.9

-4.2

57.1

31.19.5

21.6

9.53.74.11.

16.55.45.32.13.7

52.1

34.27.76.6

17.9

10.92.48.4

2.9-1.1

4.0

4.

-5.0

46.2

29.16.2

22.9

3.05.01.7

7.41.34.5

-1.63.2

43.8

33.330.82.5

10.1

8.61.86.9

1.0-2.6

3.f

-2.4

52.3

29.75.6

24.1

11.84.55.12.2

10.8.4

7.4.7

2.3

48.8

30.929.1.3

17.8

9.9.1

9.8

3.63.8

4.3

-3.5

59.2

35.27.7

27.5

11.32.15.04.2

12.83.05.6.9

3.2

54.4

32.04.4

18.0

11.3

2.01.8

4.7

-4.9

62.5

8.028.8

10.9.6

5.25.0

14.84.36.81.22.5

58.4

37.533.83.7

20.8

12.92.4

10.5

2.01.7.4

5.9

-4 .1

65.7

40.910-430.5

12.72.35.15.3

12.11.05.81.04.3

63.3

42.439.23.2

20.9

14.1

1.3

5.5

-2.4

1 Excludes banks and insurance companies.2 Preliminary estimate.3 Less than $50 million.4 Not available.

Source: Department of Commerce based on Securities and Exchange Commission and other financialdata.

270


TABLE B-69.—Current assets and liabilities of United States corporations, 1939-64 l


End of year orquarter

Current assets Current liabilities

Network-

ingcapi-tal

1939..

1940-1941—1942-1943-1944..

1945..1946-

1947-1948-1949-

1950-1951-1952-1953-1954-

1955-1956-1957-1958-1959-

1960-1961..1962..1963-

1962: I...II..III.IV..

1963: I . . .I I . .III.IV-

1964:II..III.

54.5

60.372.983.693.897.2

97.4108.1

123.6133.0133.1

161.5179.1186.2190.6194.6

224.0237.9244.7255.3277.3

289.0306.8326.7349.9

309.5314.3321.5

i.7

328.6335.8342.9349.9

350.6356.7364.3

10.8

13.113.917.621.621.6

21.722.8

25.025.326.5

28.130.030.831.133.4

34.634.834.937.4

37.241.142.944.5

38.138.738.942.9

39.140.340.844.5

40.6

2.2

2.04.0

10.116.420.9

21.115.3

14.114.816.8

19.720.719.921.519.2

23.519.118.618.822.8

20.120.020.220.6

20.619.719.220.2

20.820.319.720.6

21.420.219.1

0.1.6

4.05.04.7

2.7.7

22.1

23.927.423.321.921.8

23.230.0

38.342.443.0

1.12.72.82.62.4

2.32.62.82.82.9

3.13.43.73.6

3.43.33.43.7

3.53.33.43.6

3.33.03.2

55.758.864.665.971.2

86.695.199.4

106.9117.7

126.1135.8146.7159. 7

137. 2141.2146.7146.7

148.9153.3158.1159.7

161.3165.6171.6

18.0

19.825.627.327.626.8

26.337.6

44.648.945.3

55.164.965.867.265.3

72.880.482.281.988.4

91.895.2

100.9107.3

97.898.7

100.5100.9

102.6104.0105.8107.3

108.6109.6111.2

1.4

1.51.41.31.31.4

2.41.7

1.61.61.4

1.72.12.42.43.1

4.25.96.77.59.1

10.611.412.414.3

12.412.712.812.4

13.614.615.214.3

15.515.916.1

30.0

32.840.747.351.651.7

45.851.9

61.564.460.7

79.892.696.198.999.7

121.0130.5133.1136.6153.1

160.4171.2184.0198.8

172.2174.9181.2184.0

184.9189.8194.1198.8

195.9199.6204.9

0.6.8

2.02.21.8

.9

.1

21.9

22.625.624.024.125.0

24.831.5

37.639.337.5

. 41.32.32.22.4

2.32.42.31.71.7

1.81.82.02.5

1.81.81.92.0

2.32.52.52.5

2.62.62.7

47.953.657.057.359.3

73.881.584.388.799.3

105.0112.8121.2131.8

112.7114.7119.0121.2

121.7125.3128.1131.8

128.9131.7135.0

1.2

2.57.1

12.616.615.5

10.48.5

10.711.59.3

16.721.318.118.715.5

19.317.615.412.915.0

13.514.115.016.3

13.713.714.715.0

14.214.315.316.3

15.615.216.0

6.9

7.17.28.78.79.4

9.711.8

13.213.514.0

14.916.518.720.722.5

25.7-29.031.133.337.0

40.142.545.748.2

44.144.745.645.7

46.747.748.348.2

48.850.151.2

24.5

27.532.336.342.145.6

51.656.2

62.168.672.4

81.686.590.191.894.9

103.0107.4111.6118.7124.2

128.6135.6142.8151.2

137.3139.4140.3142.8

143.7146.0148.8151.2

154.7157.1159.4

» All United States corporations, excluding banks, savings and loan associations, and insurance companies.Year-end data through 1961 are based on Statistics of Income (Treasury Department), covering virtually allcorporations in the United States. Statistics of Income data may not be strictly comparable from year toyear because of changes in the tax laws, basis for filing returns, and processing of data for compilation pur-poses. All other figures shown are estimates based on data compiled from many different sources, includingdata on corporations registered with the Securities and Exchange Commission. As more complete informa-tion becomes available, estimates are revised.

' Receivables from and payables to U.S. Government do not include amounts offset against each otheron the corporation's books or amounts arising from subcontracting which are not directly due from or tothe U.S. Government. Wherever possible, adjustments have been made to include U.S. Governmentadvances offset against inventories on the corporation's books.

3 Includes marketable securities other than U.S. Government.

Source: Securities and Exchange Commission.

271


TABLE B-70.—State and municipal and corporate securities offered, 1934-64l


Year or quarter

1934

19351936193719381939.

19401941194219431944

19451946.194719481949

19501951195219531954

195519561957.19581959

19601961196219631964»

1962: I_._I I . .I I I .IV. .

1963: I . . .I I . .I I I .IV. .

1964: I__.I I . .I I I .IV«

Stateand

munici-pal se-

curitiesofferedfor cash(prin-cipal

amounts)

939

1,2321,121

9081,1081,128

1,238956624435661

7951,1572,3242,6902,907

3,5323,1894,4015,5586,969

5,9775,4466,9587,4497,681

7,2308,3608, 558

10,10710,531

2,6102,5341,6271,788

2,7982,8891,9672,453

2,6612,7642,6422,465

Corporate securities offered for cash »

Gross proceeds •

Total

397

2,3324,5722,3102,1552,164

2,6772,6671,0621,1703,202

6,0116,9006,5777,0786,052

6,3617,7419,5348,8989,516

10,24010,93912,88411,5589,748

10,15413,16510,70512,23713,381

2,3463,3162,1662,875

2,7003,6352,4373,466

2,5004,8502,7273,303

Com-monstock

19

222722852587

1081103456163

307891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1.6643,2941,3141,0222, 684

491466201156

222344208249

2621,735357329

Pre-ferredstock

862714068698

183167112124369

7581,127762492425

631838564489816

635636411571531

409450422342398

17176108121

658179117

3815413769

Bondsand

notes

372

2,2244,0281,6182,0441,980

2,3862,390

917990

2,670

4,8554,8825,0365,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,4208,96910,87210,299

1,8382,6751,8582,598

2,4143,2092,1493,100

2,1992,9612,2342,904

Proposed uses of net proceeds *

Total

384

2,2664,4312,2392,1102,115

2,6152,6231,0431,1473,142

5,9026,7576,4666,9595,959

6,2617,6079,3808,7559,365

10,04910,74912,66111,3729,527

9,92412,88510,50112,08113,201

2,2883,2512,1282,835

2,6643,5872,4043,424

2,4704,7972,6893,245

New money

Total

57

208858991681325

569868474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7.9579,663

11,7849,9078,578

8,75810,7158,2408,99310,941

2,0072,6631,5072,063

2,0672,4251,8842,616

2,0454,3392,0112,545

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213,724

2,9665,1106,3125,6475,110

5,3336,7099,0407,7926,084

5,6627,4135,6525,4057,059

1,4191,8791,0201,334

1,4521,5391,0161,396

1,1443,1701,1901,556

Work-ing

capi-tal

26

96478417177155

145207187167405

4421,1641,1821,708882

1,0411,4211,8682,3131,670

2,6242,9542,7442,1152,494

3.0973,3032,5883,5883,882

589784487727

614886868

1,220

9011,170821989

Retire-mentof se-

curities

231

1,8653,3681,1001,2061,695

1,8541,583396739

2,389

4,5552,8681,352307401

1,271486664260

1,875

1,227364214549135

271868754

1,528717

60194225275

314740295179

102172213230

Otherpur-poses

9519320414822295

19217217310096

267610524722952

984589537535709

864721663915814

8951,3021,5071, 5611,543

221392395498

284422225628

324285465469

i These data cover substantially all new issues of State, municipal, and corporate securities offered forcash sale in the United States in amounts over $100,000 and with terms to maturity of more than 1 year.

* Excludes notes issued exclusively to commercial banks, intercorporate transactions, sales of invest-ment company issues, and issues to be sold over an extended period, such as offerings under employee-purchase plans.

» Number of units multiplied by offering price.« Net proceeds represents the amount received by the issuer after payment of compensation to distributors

and other costs of flotation.8 Preliminary.NOTE.—Data for Alaska and Hawaii included for all periods.Sources: Securities and Exchange Commission, The Commercial and Financial Chronicle, and The Bond

Buyer.

272


TABLE B-71.—Common stock prices, earnings, and yields and stock market credit, 1939—64

Year or month

Standard and Poor's common stock data

Price index *

Total Indus-trial

Publicutilities

Rail-roads

Divi-dendyield 2(per-cent)

Price/earn-ringsratio 3

Customer credit (excludingU.S. Government securities)

Stock market credit

TotalNet

debitbal-

ances *

Bankloans

to"others" 5

Bankloans tobrokers

anddealers«

1941-43 = 10 Millions of dollars

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1963: Jan..Feb.Mar.Apr.May.June.July.Aug.Sept.Oct..NovDec.

1964: Jan. .Feb.Mar.Apr.MayJune.July.Aug.Sept.Qct -Nov.Dec.

12.0611.029.828.67

11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3765.0665.9265.6768.7670.1470.1169.0770.9872.8573.0372.6274.1776.4577.3978.8079.9480.7280.2483.2282.0083.4184.8585.4483.96

11.7710.699.728.78

11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1968.0068.9168.7172.1773.6073.6172.4574.4376.6377.0976.6978.3880.8581.9683.6484.9285.7985.1388.1986.7088.2789.7590.3688.71

16.3415.0510.937.74

11.3412.8116.8420.7618.0116.7717.8719.9620.5922.8624.0327.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969.9163.3564.0763.3564.6465.5264.8764.4766.5767.0965.5564.8165.6467.2667.2066.7867.3067.2967.4670.3571.1772.0773.3774.3974.24

9.82

9.419.398.81

11.8113.47

18.2119.0914.0215.2712.83

15.5319.9122.4922.6023.96

32.9433.6528.1127.0535.09

30.3132.8330.5637.5845.46

34.0634.5934.6036.2538.3739.3438.7539.2239. CO38.3138.6039.92

41.0041.5442.8843.2744.8646.2948.9347.1747.1448.6948.0145.71

4.05

5.596.827.244.934.86

4.173.854.935.546.59

6.576.135.805.804.95

4.084.094.353.973.23

3.472.983.373.173.01

3.313.273.283.153.133.163.203.133.063.053.143.143.063.053.033.003.013.052.963.033.002.952.963.06

13.8010.248.268.80

12.8413.66

16.3317.699.366.906.64

6.639.27

10.479.69

11.2511.5014.0512.8916.6417.0517.0921.0616.6817.62

17.85

17.26

17.57

17.78

18.16

17.61

~17.~87

()

88

1,374976

1,032968

1,249

1,7981,8261,9802,4453,436

4,0303,9843,5764,5374,461

4,4155,6025,4947,2427,053

5,5955,7175,7545,9786,2296,4206,5116,6606,9717,1807,2987,242

7,2507,1207,1417,3147,2777,2297,1607,0967,1427,1017,1087,053

8?

942473517499821

1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,0794,2084,3324,3314,5264,7374,8984,8955,0345,3165,4955,5865,5155,5245,3845,3665,5105,4395,3705,2895,1875,2215,1855,1605,079

((i

7)

353

432503515469428

561573648780

1,048

1,2391,1611,0941,2521,181

1,1931,3431,3691,7271,974

1,3871,3851,4231,452L,4921,5221,616L,6261,6551,685L, 7121,7271,726L,736L, 7751,8041,8381,859L, 8711,9091,9211,9161,948:1,974

715

584535850

1,3282,137

2,7821,471784

1,3311,608

1,7421,4192,0022,2482,6882,8522,2142,1902,5692,5842,6143,3984,3524,8224,6313,0683,8563,3763,1943,3644,0683,6313.3314,5303.6354,0504,822

4, 0953,8624,0424,0474,3174,6544,4433,9894,7943,8784,1334,631

1 Includes 500 common stocks, 425 are industrials; 50 are public utilities; and 25 are railroads. Annuadata are averages of monthly figures and monthly data are averages of daily figures.2 Aggregate cash dividends (based on latest known annual rate) divided by the aggregate monthly marketvalue of the stocks in the group. Annual yields are averages of monthly data.

3 Ratio of Quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter.Annual ratios are averages of quarterly data.

• As reported by member firms of the New York Stock Exchange carrying margin accounts. Includesnet debit balances of all customers (other than general partners in the reporting firm and member firms ofnational exchanges) whose combined accounts net to a debit. Balances secured by U.S. Governmentobligations are excluded. Data are for end of period.

• Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except U.S. Government obligations. From 1953 through June 1959, loans for purchasing orcarrying U.S. Government securities were reported separately only by New York and Chicago banks.Accordingly, for that period any loans for purchasing or carrying such securities at other reporting- banksare included. Series also revised beginning July 1946, March 1953, July 1958, and April 1961. Data are forlast Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.

• Loans by weekly reporting member banks for purchasing or carrying securities, including U.S. Govern-ment obligations. Series revised beginning July 1946, January 1952, July 1958, July 1959, and April 1961.Data are for last Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.7 Not available.

Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and NewYork Stock Exchange.

273


T A B L E B-72.—Business population and business failures,

Year or month

1929

193019311932193319341935 _.1936.1937 - -19381939

1940194119421943194419451946194719481949

19501951195219531954195519561957.19581959

I9601961196219631964

1963: JanFebMarA p rMayJuneJulyA u gSeptOctNovDec

1964: TanFebMarAprMayJuneJuly . - -AusrSeptOctNovDec

Operatingbusinesses(thousandsof firms) i2

3,0292,9942,9162,8282,7822,8842,9923,0703,1363,0743,2223,3193,2763,2953,0302,8392,9953,2423,6513,8733,9844,0094,0674,1184,1884,2404,2874,3814,4714,5334,5834,6584,7134,7554,8154,8604,815

1.825

4,835

4,850

A, 860

4,875

A, 895

4,910

New-busi-ness

pora-tions(num-ber) 3

132,916112,63896,10185,491

92,92583,64992,819

102, 545117,164139,651140,775136,697150,280

«193,067

182,713181, 535182,057

9186,404io 197,717

»14,92415,89015 56$15,30515 68215,536

15, AS116,09315,68916, 27515 75915,867

16,25016,01815,99216,18015,91715,919

15,97916,07416,60516, A9$17,103

io 17,1A7

1929-641

Business failures 4»

Busi-nessfail-ure

rate«

103.9121.6133.4154.1

i 100.361.161.747.845.961.1

7 69.663.054.544.616.46.54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.8

9 56. 353.2

*65.£60.754.454.256.1,67.857.154.559.469.665 151.253.955.356.651.3J9.453.254.959.156.350.750.348.2

Number of failures

Total

22,909

26,35528,28531,82219,85912,09112, 2449,6079,490

12,83614,768

13,61911,8489,4053,2211,222

8091,1293,4745,2509,246

9,1628,0587,6118,862

11,08610,96912,68613,73914,96414,053

15,44517,07515,782

914,37415,301

9 1,2581,3041,2951,2871 3031,211

1,1551 1351,0511,2621 115

998

1,2171,2411I3201,1971,0751,157

1,0961,1691,0341,060

967968

Liability sizeclass

Under$100,000

22,165

25,40827, 23030,197

^ 18,88011,42111,6919,2859,203

12, 553714,541

13,40011,6859,2823,1551,176

7591,0023,1034,8538,708

8,7467,6267,0818,075

10, 22610,11311,61512,54713,49912,707

13,65015,00613,77212,19211,346

1,0011,1091,1071,1161,0621,042

984982905

1,056970858

9921,0501,139

969914

1,003

9081,018

837893810813

$100,000andover

744

9471,0551,6257 979

670553322287283

7 227

219163123664650

127371397538

416432530787860856

1,0711,1921,4651,346

1,7952,0692,0102,1822,155

257195188171241169

171153146206145140

225191181228161154

188151197167157155

Amount of currentliabilities (millions of

dollars)

Total

483.3668.3736.3928.3

7 457. 5334.0310.6203.2183.3246.5

7 182. 5166.7136.1100.845.331.730.267.3

204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6

1,090.11,213.691,352.61,329. 2» 161.0

94.797.7

100.8US. 386.2

120.565.285.991.8

262.168.496.7

123.9111.0112.993.4

144.5125.695.2

114.693.8

119.398.2

Liability sizeclass

Under$100,000

261.5303.5354.2432.6

7 215. 5138.5135.5102.8101.9140.1

7132.9119.9100.780.330.214.511.415.763.793.9

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.625. 529.628.829.528 027.625.826.923.927.524.623.127.929.230.426.225.127.624.528.922.325.422.423.7

$100,000andover

221.8364.8382.2495 7

7 242.0195.4175.1100.481.4

106.47 49.7

46.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1*

1,031.61,015. 6

135.465.268.971.390.358.594.738.362.064.3

237.545.368.904.780.686.668.3

116.9101.166.392.368.397.074.5

1 Excludes firms in the fields of agriculture and professional services. Includes self-employed persononly if he has either an established place of business or at least one paid employee.

2 Data through 1939 are averages of end-of-quarter estimates centered at June 30. Beginning 1940, dataare for beginning of period. Quarterly data shown here are seasonally adjusted.

3 Total for period. Monthly data are seasonally adjusted.4 Total for period.5 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933,

of real estate, insurance, holding, and financial companies, steamship lines, travel agencies, etc.6 Failure rate per 10,000 listed enterprises. Monthly data are seasonally adjusted.7 Series revised; not strictly comparable with earlier data.8 Includes data for Hawaii beginning 1959 and Alaska beginning 1960. (Data for 1958 comparable to 1959

are 150,781; data for 1960 comparable to 1959 are 182,374.)9 Includes data for District of Columbia beginning 1963.

10 Preliminary.Sources: Department of Commerce (Office of Business Economics) and Dun & Bradstreet, Inc.

274


AGRICULTURETABLE B-73.—Income from agriculture, 1929-64

Year orquarter

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619571958 - -1959

19601961196219631964*

1963: IIII l lIV

1964: IIIIIIIV«

Personal incomereceived by totalfarm population

Fromall

sources

5.4

7.77.29.07.27.4

7.610.114.016.316.5

17.120.121.023.519.0

20 422.822.320.019.0

18.318.618.820.519.0

19.620.120.419.919.6

Fromfarm

sources

3.2

5.44.66.34.74.8

4.96.9

10.212.212.3

12.915.716.018.113.5

14 316.515.713.813.2

12.212.012.213.811 8

12.313.113.313.012.7

Fromnon-farm

sources1

2.2

2.32.62.72.42.6

2.73.23.84.14.2

4.24.45.05.45.6

6.06.36.66.35.8

6.16.66.66.77.1

7.27.07.16.86.9

Eealized gross

Total 2

Cashreceipts

frommarket-

ings

Billions of dollars

13.9

11.48.46.47.18.5

9.710.711.310.110.6

11.013.818.823.424.4

25.829.734.434.931.8

32.537.337.035.333.9

33.334.634.437.937.5

37.939.64G.941.742.0

11.3

9.16.44.75.36.4

7.18.48.97.77.9

8.411.115.619.620.5

21.724.829.630.227.8

28.533.032.631.130.0

29.630.629.833.433.5

34.031.936.136.936.7

Income received

Produc-tion ex-penses

7.6

6.95.54.44.34.7

5.15.66.15.86.2

6.77.79.9

11.512.2

12.914.517.018.918.0

19.322.222.621.421.7

21.922.623.425.326.2

26.227.028.329.229.4

from farming

Net to farmoperators

Exclud-ing netinven-tory

change

6.3

4.52.91.92.83.9

4.65.15.24.34.4

4.36.28.8

11.912.2

12.815.217.316.113.8

13.215.214.413.912.2

11.512.011.012.611.3

11.712.612.612.512.6

Includ-ing netinven-tory

change3

6.1

4.33.32.02.62.9

5.34.36.04.44.5

4.66.69.9

11.811.8

12.415.315.517.812.9

14.016.315.313.312.7

11.811.611.813.511.4

12.012.913.213.012.7


41.941.541.642.0

41.942 041.642.5

37.036.736.837.2

36.736.836.237.1

29.329.229.229.2

29.629.729.129.2

12.612.312.412.8

12.312.312.513.3

13.212.812.913.2

12.612.612.612.9

Net income perfarm, includingnet inventory

change

Currentprices

1964prices 4

Dollars

943

650506305382434

778643911675697

7201,0441,6001,9421,967

2,0802,5742,6483,0652,259

2,4793,0092,9512,6642,645

2,5292,5742,6953,2012,775

3,0443,3893,5813,6433,656

1,849

1,3541,234

8711,0611,059

1,8981,5682,1191,6461,742

1,8002,4283,2003,5313,391

3,4103,7853,3523,6492,789

3,0233,3433,2792,9602,939

2,8102,8292,8673,3692,891

3,1383,4943,6543,6803,656

3,6903,5803,6103,690

3,6303,6303,6303,710

3,7303,6103,6503,730

3,6703,6303,6303,710

1 Includes all income received by farm residents from no farm sources such as wages and salaries fromnonfarm employment, nonfarm business and professional income, rents from nonfarm real estate, dividends,interest, royalties, unemployment compensation and social security payments.

* Cash receipts from marketings, Government payments, and nonmoney income furnished by farms.' Includes net change in inventory of crops and livestock valued at the average price for the year. Data

prior to 1946 differ from farm proprietors' income shown in Tables B-ll and B-14 because of revisions bythe Department of Agriculture not yet incorporated into the national income accounts of the Departmentof Commerce.

* Income in current prices divided by the index of prices paid by farmers for family living items on a1964 base.6 Preliminary.

Source: Department of Agriculture.275


TABLE B-74.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-64

[1957-59=100]

Year or month

1929

19301931193219331934 ....

19351936193719381939

19401941194219431944

19451946194719481949I9601951.1952 .19531954

19551956195719581959 . ...I9601961196219631964 '

1963- JanFebMar ..AprMayJune

July .. .Aug.SeptOctNovDec

1964* JanFebMar . .AprMayJune

JulyAugSeptOctNovDec

Prices received by farmers

Allfarmprod-ucts1

61

5236272937

4547514039

425166•80• 82

•86•98114119103

107125119105102

969597104999899

10110098

1011019910099100

10110010010010098

1019999989796

979698989797

Crops

Allcrops1

615234263244

4649533637

4148658489

91102118114100

104119120108108

10410510110099

99102H

I |

104106109110109

106104104105108108

109109108109111108

105101102104104105

Foodgrains

55

4427213143

4651573534

4046577078

8195128118103

106115116111110

1071061069896969910710689

109110110113110102

9797101105106107

10910810210610380

767677787979

Feed grainsand hay

Total

74

6746313660

6865794546

54587296108

106127161162112

122143147130128

1161151059798959597103105

99101101101102106

107106108102100103

105103105H

I |

103107104101108

Feedgrains

77

6844283660

7068844544

54587397109

104131171170109

1231471501321301161161059798939495101102

96989899101106

107104106999699

10199101103104105

10210110510198105

Cot-ton

57

4024192639

38383627283243606466

699110510494

108129119102105

1041031019710297100104104100

98100105107105105

103104106106105101

979599102104105

10599991009795

To-bacco

35

2920182232

3533413631

2832516672

7478777882

8390898991

909396100104103109109102101

100103103103103103

1029910310210099

101101101101101101

10110099102101102

Oil-bear-ingcrops

62

4832192545

5552564242

4560808897

100114158153106

120148129122133

1091111069*9693112109113112

110113113111113113

112111111115118116

117115114110107107

108106111114115119

Livestock and products

Alllive-stockandprod-ucts l

62

5238282732

4446494341

42536677768294111122106

10813011910497

9088941061009898999591

1009794939293

979797969491

949292898787

919295939291

Meatani.mals

50

4330201922

3838423736

3546606662

•67•81107117101

1101331159492

80768910910296971019487

1009592949396

1009895938884

898789878586

898992878485

Dairyprod-ucts

65

5543333440

4549514543

475563•77•86•89• 10410611798

9711211810496

9699101991001011019999100

10110097949290

9498102105106105

10310199959291

9598102106108106

Poul-tryandeggs

102

81625147567473706961627796121112

126127141153140

118144130140113

12111210210890

10192929290

9710198918585

879094949592

979291868384

889292919188


276


TABLE B—74.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-64—Continued[1957-59=100]

Year or month

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

1950195119521953 .1954

19551956195719581959

I960

19621963-1964 71963- Jan

FebMarAprMayJune

JulyAURSeptOctNovDec

1964* JanFebMarAprJVIayJune

JulyAugSeptOctJNovDec

Prices paid by farmers

Allitemsin-

terest,taxes,andwagerates(parityindex)

55

5244383741

4242454242

4245525862

6571828986

8897989595

949598100102102103105106107107107106107107106107107106106106106107107107107107107

107107107107107107

Commodities and services

Allitems

55

51443838434545484544

4548556164

6672859288

90100100

96

959698101101101101103104104104104104104104104104104104104104104

104104104104104104

104104104104104104

Fam-ily

livingitems

54

5043373843

4843454342

4245525861

6471838885

8694959494

959699100101102102103104105104104104104104104105104104104104104104105104105105105

105105105105105105

Production items

Allproduc-tion

items »

56

5243383844

4646504746

4750576366

6773859591

941041049797

969598100102

101101103104103104104104104104104104104104104103103

104103104104103103

103103103103103103

Feed

68

61433237525355624747

5054667887

86100118125103

105118126114113

10610310199100

9898100104103103104104103102103104104105104103105

106105104104103102

101101103103102104

Motorve-

hicles

3635353434363738394240

4042454751

5355637178

7883878686

878996100104102102105109111109

109

109109

108108108110

111

111111

110110111111

Farmma-chin-ery

43

434240394041424344434343464849

4951586776

7883868787

879296100104107110111114117

113

114

114

114

115

116

118

118

Fer-til-izer

858375666169

68646767666464717677

7979889698

94100102103102

101100100100100100100100100100

" Too100

100

10099

100

In-ter-est*

120

1161111049283

76706662605755534744

4242434446

5055616671

748391100109120131145162182

162162162162162162162162162162162162

182182182182182182

182182182182182182

Taxes3

58

5958534639

3738383939

4039403939

4045505862

6770737780

818793100107

117125132139146

139139139139139139139139139139139139

146146146146146146

146146146146146146

Wagerates«

32

3024181517

1820222222

2226344554

6266727674

7381878888

89929699105109110114116119

114114114117117117117117117117117117

116116116121121121

121121121119119119

Par-ity

ratio »

92

8367586475

8892937877

8193105113108

109113115110100

1011071009289

84838285818079797875797877787777787878787876787776757574

757475767575

1 Includes items not shown separately.2 Interest payable per acre on farm real estate debt.3 Farm real estate taxes payable per acre (levied in preceding year).* Monthly data are seasonally adjusted.5 Percentage ratio of prices received for all farm products to parity index, on a 1910-14=100 base.• Includes wartime subsidy payments.7 Preliminary.Source: Department of Agriculture.

277


TABLE B-75.—Farm production indexes, 1929-64

[1957-59=100]

Year

1929...

1930-.1931...1932...1933...1934...

1935...1936...1937...1938...1939...

1940...1941...1942...1943...1944...

1945...1946...1947—1948--.1949--

1950...1951...1952...1953...1954...

1955...1956..-1957.-.1958...1959-.

I960...1961._.1962...1963-.1964 *__

Farmout-puti

62

6166645951

6155696768

7073828083

8184818887

8689929393

969795102103

106107108112111

Total2

73

6977736554

7059817675

7879898388

8589859792

8991959493

969593104103

108107107112109

Feedgrains

62

5663735633

6038676565

6671817478

7582639180

8175797781

868593101106

1099910011097

Hayandforage

79

6672746964

8266758175

8686939190

9387848483

8992909292

989410110297

103102105105105

Foodgrains

68

7479634745

5554747763

6979837288

929511110792

868510910088

83878212197

11510698102114

Crops

Vege-tables

73

7475767380

8175828181

8384899792

94105919794

9689909593

9610298102100

103110108111106

Fruitsandnuts

75

7392757671

9070938496

9399988498

891061019298

98100979899

9910394102104

9810998102109

Cot-ton

120

11313810510578

861011549796

1028810593100

747197122131

82124124134111

1201088993118

116116121124124

To-bacco

88

9589588063

76689180110

84738181113

114134122115114

117135130119130

12712696100104

112119134135129

Oilcrops

13

1414131113

2116182229

3437566050

5452556761

7165636371

78929111198

105122123129128

Livestock and products

Total*

63

6465666761

5963626570

7175849186

8683828085

8892929396

99999799104

102106107110113

Meatani-mals

62

6366677059

5360586371

7276879788

8482817983

8995959498

1031009698106

103106108113116

Dairyprod-ucts

75

7678797978

7879798182

8489929192

9594939093

9392929798

9910110110099

101103104103104

Poul-tryandeggs

44

4544444441

4144444548

4954627171

7469686774

7881828487

869495101104

104112111115118

i Farm output measures the annual volume of farm production available for eventual human use throughsales from farms or consumption in farm households. Total excludes production of feed for horses and mules.

* Includes production of feed for horses and mules and certain items not shown separately.' Includes certain items not shown separately.* Preliminary.

Source: Department of Agriculture.

278


TABLE B—76.—Selected measures of farm resources and inputs, 1929-64

Year

1929

1930 . .1931193219331934

19351936193719381939 . .

19401941194219431944

19451946194719481949 . .

19501951195219531954

19551956195719581959

19601961196219631964 «

Cropsharvested(millionsof acres)1

Total

365

369365371340304

345323347349331

341344348357362

354352355356360

345344349348346

340324324324324

324303295300295

Exclu-sive ofuse forfeed forhorsesandmules

298

304303311281247

289269295301286

298304309320326

322323329332338

326326334335335

330315316317318

319299291296291

Live-stockbreed-ingunits(1957-59=100)2

92

9293959898

8690878793

9594104117114

1091071049899

102103103100104

10610410199100

979899100100

Man-hoursof

farmwork(bil-lions)

23.2

22.923.422.622.620.2

21.120.422.120.620.7

20.520.020.620.320.2

18.818.117.216.816.2

15.115.214.514.013.3

12.812.011.110.510.3

9.89.59.18.88.6

Index numbers of inputs (1957-59=100)

Total

98

9796939186

8889949194

9797100101101

999999100101

101104103103102

1021019999102

101101101102103

Farmlabor

218

216220213212190

198192208193194

192188194191190

177170162158152

142143136131125

1201131049997

9289858381

Farmreal

estate8

92

9189868786

8889909192

9292918988

8891929595

97989999100

10099100100100

100100101101102

Me-chani-cal

powerandma-

chinery

38

4038353232

3335384040

4244485051

5458647280

8692969798

999910099101

100979799101

Ferti-lizerandlime

21

2116111214

1720242324

2830343843

4553565761

6873808388

90919497109

110116124132137

Feed,seed,andlive-stockpur-

chases *

27

2623242424

2331293037

4546576364

7269737269

7280818082

869193101106

109123121124123

Miscel-laneous

76

7678797669

6668687072

7374757676

7677787482

8588889191

949895100105

106109113115120

* Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.» Animal units of breeding livestock, excluding horses and mules.' Includes buildings and improvements on land.< Nonfarm inputs associated with farmers' purchases.»Preliminary.Source: Department of Agriculture.

279


TABLE B-77.—Farm population, employment, and productivity, 1929-64

Year

Farm popu-lation

(April 1) i

Num-ber

(thou-sands)

As per-cent oftotalpopu-

lation8

Farm employment(thousands)«

Total Familyworkers

Hiredworkers

Farm output

Perunitof

totalinput

Per man-hour

Total Crops Live-stock

Croppro-duc-tionper

acre4

Live-stockpro-

ductionper

breed-unit

1929.

1931.1932.1933.1934.

1935.1936.1937.1938.1939.

1940.1941.1942.1943.1944.

1945.,1946..1947.1948..1949.

1950.1951.1952.1953.1954.

1955_1956.1957.1958..1959..

1960...1961...1962...1963-_.1964»_.

Index, 1957-59=100

30,580

30,52930,84531,38832,39332,305

32,16131,73731,26630,98030,840

30,54730,11828,91426,18624,815

24,42025,40325,82924,38324,194

23,04821,89021,74819,87419,019

19,07818,71217,65617,12816,592

15,63514,80314,31313,36712,954

25.1

24.824.825.125.825.6

25.324.824.323.9

23.122.621.419.217.9

17.518.017.916.616.2

15.214.213.812.411.7

11.511.110.39.89.4

8.78.17.77.16.7

12,763

12,49712,74512,81612,73912,627

12,73312,33111,97811,62211,338

10,97910,66910,50410,44610,219

10,00010,29510,38210,3639,964

9,9269,5469,1498,8648,651

8,3817,8527,6007,5037,342

7,0576,9196,7006,5186,110

9,360

9,3079,6429,9229,8749,765

9,8559,3509,0548,8158,611

8,3008,0177,9498,0107,988

7,8818,1068,1158,0267,712

7,5977,3107,0056,7756,570

6,3455,9005,6605,5215,390

5,1725,0294,8734,7384,506

3,403

3,1903,1032,8942,8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362,1442,0892,081

2,0361,9521,9401,9821,952

1,8851,8901,8271,7801,604

63

6369696559

6962737472

7275827982

8285828886

8586899091

949696103101

105106107110108

28

2830302827

3129333535

3639424244

4649505657

6162687174

808691103106

115120127135137

28

2730302727

3128333534

3739434144

4650505757

6361676973

778390105105

114119124132130

48

4747474643

4446464850

5051565856

5859616266

6872747680

858992100108

113120127136147

69

6472686151

6656767374

7677867883

8286829285

8485908988

919293105102

109113116119116

7070

70717575

7580817875

79787982

86

9392

939596100104

105108108110113

» Farm population as denned by Department of Agriculture and Department of Commerce, i.e., civilianpopulation living on farms, regardless of occupation.

8 Total population of United States as of July 1 includes armed forces abroad and Alaska and Hawaiibeginning January and August 1959, respectively.

* Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Statistical Reporting Service, differ from those on agricultural employment by the Departmentof Labor (see Table B-21) because of differences in the method of approach, in concepts of employment,and in time of month for which the data are collected. For further explanation, see monthly report onFarm Labor, September 10, 1958.

* Computed from variable weights for individual crops produced each year.1 Preliminary.Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).

280


TABLE B-78.—Comparative balance sheet of agriculture, 1929-65


Beginningof year

Assets

Total Realestate

Other physical assets

Live-stock

Ma-chin-eryand

motorvehi-cles

Crops

House-holdfur-nish-ingsand

equip-ment8

Financial assets

Depos-its

andcur-

rency

U.S.savingsbonds

Invest-mentin co-opera-tives

Claims

TotalRealestatedebt

Otherdebt

Pro-prie-tors'equi-ties

1929

19301931193219331934

19351936193719381939

19401941194219431944

1945 -1946194719481949

1950195119521953 _1954

195519561957 _19581959

196019611962196319641965*

68.5

8

852.955.062.973.784.5

94.0103.3116.2127.5134.2

131.6150.4165.5162.5159.1

162.7166.8174.7182.5198.7

199.4199.6208.1215.8223.0230.5

48.0

47.943.737.230.832.2

33.334.335.235.234.1

33.634.437.541.648.2

53.961.068.573.776.6

75.386.695.196.595.0

98.2102.9110.4115.9124.4

129.9131.4137.4142.8150.8158. 5

6.6

6.54.93.63.03.2

3.55.25.15.05.1

5.15.37.19.69.7

9.09.7

11.913.314.4

12.917.119.514.811.7

11.210.611.013.917.7

15.615.516.417.215.7

3.2

3.43.33.02.52.2

2.22.42.63.03.2

3.13.34.04.95.3

6.35.25.17.09.4

11.313.015.215.616.3

16.216.517.117.018.5

18.618.218.619.519.8

4.0

888

4.24.24.95.05.3

5.66.17.78.59.1

8.69.7

10.39.9

10.010.510.09.99.8

9.68.99.18.78.4

0.6

88

0.8

2.12.32.52.72.9

3.13.33.43.6

4.14.34.64.85.1

52.955.062.973.784.5

94.0103.3116.2127.5134.2

131.6150.4165.5162.5159.1

162.7166.8174.7182.5198.7

199.4199.6208.1215.8223.0230.5

9.8

9.69.49.18.57.7

7.67.47.27.06.8

6.66.56.46.05.4

4.94.84.95.15.3

5.66.16.77.27.7

8.29.09.8

10.411.1

12.112.813.915.216.818.7

53.9

42.944.652.463.775.6

85.795.3

107.7118.2122.8

119.2137.3150.8146.4142.2

145.1148.0155.3162.1175.0

174.5173.4179.4184.0188.1192.7

1 Includes all crops held on farms for whatever purpose and crops held off farms as securitv for CommodityCredit Corporation loans. The latter on January 1,1964, totaled $912 million.

2 Revised to reflect farm population estimates based on definition of a farm in 1959 Census of Agriculture.For further details of revision, see Agricultural Information Bulletin No. 870.

3 Not available.4 Preliminary.

Source: Department of Agriculture.

281


INTERNATIONAL STATISTICS

TABLE B-79.—United States balance of payments, 7947-64


Year orquarter Total

Exports of goods and services

Mer-chan-dise^

Income oninvestments

Mili-tary

Pri-Gov-ern-ment

Otherserv-

Adden-dum:Goodsandserv-

ices fi-nanced

byGovern-mentgrantsand

capital

Imports of goods andservices

Mer-Total chan-

dise1

Mili-taryex-

pend-itures

Otherserv-ices

Bal-anceon

goodsandserv-ices

Remit-tancesandpen-sions

1947-1948-1949-

1950-1951-1952-.1953-_1954-_

1955__1956-1957-1958-1959-

1960-1961-.1962_.1963-1964"

1962: III.IIIIV

1963: IIIIIIIV

1964: IIIIII

19,737 16,01516, 789 13,19315,770 12,149

10,11714,123

13,80718,744 ,17,992 13,31916,947 12,28117,759 12,799

19,804 14, 28023,595 17,379" '" 19,390

16,26423; 476 16,282

27,04428,438 .30,084 20,32,020 2136

19, 45919,913~\ 576

.,98936,004 24,680

()192182

200161375300302

335402656659720

1,0361,2381,297

1,4841,6841,6241,6581,955

2,1702,4682,6122,5382,694

2,9113,4643,850

4,777

66102

109198204252272

274194205307349

349380471498528

2,6202,2562,226

2,0972,7392,8452,5642,551

2,8803,3933,8993,6583,849

3,9904,2794,5314,9055,299

(10)(10)

(10)

(10)(10)(10)(10)(10)

(10)(10)(10)(10)(10)

2,2392,6872,9083,3383,363

8,20810,3499,621

5,9797,5636,879

12,02815,07315,76616,561

9,10815,073 11,20215,76610,838

10,99015,931 10,354

17,795 1119,628 12; 80420, 752 13,29120,861

,5275,8041,291

12,95223,342 15,310

!3,193 14,72322,852 14,49725,02126,33527,943

16,13416,99618,252

455799621

5761,2702,0542,6152,642

2,9012,9493,2163,4353,107

3,0482,9543,0442,8972,839

1,7741,9872,121

2,3442,6012,8742,9562,935

3,3673,8754,2454,4744,925

5,4225,4015,8436,4426,852

11,5296,4406,149

1,7793,6712,226386

1,828

2,0093,9675,7292,206134

3,8515,586

5,6858,061


28,920 20,12830,536 20,30, 508 21.30,372 20;

30,14031,908 2132

1,948,152),076

19,96021,888

44032,148 22,44033,884 23,668

36,000 24,44835, 356 24,14436, 656 25,448

452760564848

724824468620

840604716

3,4643,7763,8444,316

4,1443,8763,8524,004

4,9004,7764,656

436572420456

492496500504

524528532

4,4404,4804,5284,676

4,8204,8244,8885,088

5,2885,3045,304

2,9842,7522,9442,952

2,9844,0203,0443,304

3,0483,5403,500

26,976

26,99228,03228,804

24,472 15,79225,076 16,23225,192 16,35225,344 16,160

25,308 16,14826,124 16,84826,932 17, 472

17,516

17,46418,30418,988

3,0322,9962,9803,168

2,9882,9242,8442,832

2,8682,9122,736

5,6485,8485,8606,016

6,1726,3526,6166,628

6,6606,8167,080

4,4485,4605,3165,028

4,8325,7845,2166,908

9,0087,3247,852

-715-617-630

-523-457-545-617-615

-585-665-702-722-791

-672-705-738-826-825

-748-756-708-740

-836-836-824-808

-788-832-856


282


TABLE B-79.—United States balance of payments, 1947-64— Continued


Year orquarter

1947.-1948-.-1949—

1950—1951-..1952- _1953—1954-_.

1955—1956—1957—1958—1959---

1960—1961—1962—1963--1964 ».

1962:I

III.IV-

1963:I—I I -III.IV.

1964:I.-_I I -III i

U.S.Gov-ern-

mentgrants

andcapi-tal,

net 2

-6,121-4,918-5,649

-3,640-3,191-2,380-2,055-1,554

-2,211-2,362-2,574-2,587-2,421

-2,781-3,396-3,547-3,785-3,469

U.S. private capital,net

Directinvest-ment

-749-721

-621-508-852-735-667

-823-1,951-2,442-1,181-1,372

-1,674-1,599-1,654-1,888-2,148

Long-termport-folio a

- 4 9

-495-437-214

185-320

-241-603-859

-1,444-926

-1,025-1,227-1,685-1,435

Short-term

-189-116

187

-149- 1 0 3- 9 4167

-635

-191-517-276-311- 7 7

-1,348-1,556

-553-734

-2,069

For-eigncapi-tal,net*

Errorsand

unre-cordedtrans-

action;

-75-173

90243212178240

39465348722

341622162311420

Bal-anceon

regulartrans-

is actions

9361,179

775

- 2 1477601339173

503543

1,157488412

-772-998

-1,111-339-533

4,5671,005

175

-3,580-305

-1,046-2,152-1,550

-1,145-935

520-3,529-4,178

-3,918-3,071-3,605-3,261

ir


-3,648-3,368-3,488

3, 684

-3,596-4,680-3,164-3, 700

-3,092-3 . 756-3,560

-1,040-1,784-1,668-2,124

-2,472

940-2, 232

-2,084-2,284-2,076

-1,560-1,212

-832-1,304

-2,184-2,392-1,212

-952

-1,052-2,344

-1,672484

-584-440

144-2,248

16

-2, 528-2,468-1,212

6804812

- 9 2

- 9 61,068

460

104520636

- 2 8-856

-1,720-1,840

-472- 4 4

-1,1228

-216-704

-3,568-1,984-3,672-5,196

-4,680-5,256-1,516-1,592

-968-2,764-2,264

Changes in selected lia-bilities (decrease ( - ) ) •

Se-lectedspecialGov-ern-

menttrans-

ac-tions i

Specialnonmar-ketable,convert-

iblebondsand

notes

435

37701

1,402617

(10)

To foreignofficial holders *

702(10)

Other

Toother j

foreignhold-ers *

-1,25273191

1,554-5051,237848

1,043

5591,130

20735

1,248

1,449681457970

(10)

2688432244827

404674625502

1,460

1,083213594

Changesin gold,convert-ible cur-rencies,

andIMFgold

trancheposition(increase

( ) )

-3,315- 1 , 736

-266

1,758- 3 3

-4151,256

480

182-869

-1,1652,2921,035

2,143606

1,533378

(10)

Quarterly totals unadjusted

14456584618

10819226264

148-39

4

35015217525

122203

-653462270378

-74773145126

-39992181

70024

-458-53

397144476

233109558

427-164881389

32124227-5

-5130370

1 Adjusted from customs data for differences in timing and coverage.2 Includes associated Government liabilities and scheduled loan repayments.3 Includes banking claims.4 Other than liquid funds; includes miscellaneous Government nonliquid liabilities.5 Includes official debt prepayments, advances on military exports, and net sales of those nonmarketable,

medium-term, nonco.nvertible securities not associated with specific transactions.6 Includes short-term official and banking liabilities and foreign holdings of U.S. Government bonds

and notes (other than nonmarketable, nonconvertible).7 Central banks and governments.8 Private holders; includes banks and international and regional organizations. Excludes those liabilities

to the International Monetary Fund which enter into calculation of U.S. gold tranche position.9 Not reported separately.i° Not available.11 Average of the first three-quarters based on seasonally adjusted data.12 Preliminary.

NOTE.—Data exclude military grant aid and U.S. subscriptions to the IMF.


283


TABLE B-80.—United States merchandise exports and imports, by economic class, 1929-64


Year or month

Sea-son-allyad-

justed

Monthly average:192919301931193219331934

1935.

1937..1938-

1940..1941..1942-.1943..1944..

1945..1946..1947..1948..1949..

1950..1951..1952..1953-.1954..

1955..1956..1957..1958..1959-.

1960.1961..1962.1963.1964 «

Merchandise exports

Total ex-ports (in-cluding

reexports)

Un-ad-

justedTotal1

437320202134140178

190205279258265

335429673

1,01,188

817812

1,2781,0541,004

833,164,100,022,071

191444625364

,633,679,745L,863

2,093

Domestic exports

Food-stuff

430315198131137175

187202275255260

328418667

1,0701,180

799792

1,2631,044995

8221,151

1J0121,060

1,1801,4321,6111,3511,352

1,6171,6591,7231,8392,064

In-dus-trial

mate-rials

204283140150

143184263219187

116190175143131

162216208198210

230254281314348

Fin-ishedman-ufac-tures i

15611274596983

86891179295

11494111146138

138193282238261

25134;300254310

351441530368366

510486440494566

Sea-son-allyad-

justed

21115893525173

8396

135127139

194281472784892

518415719587546

455616612614620

667775872784776

877919

1,0021,0311,150

Merchandise imports

Generalimports

Un-ad-

justed

367255174110121138

171202257163

219279230282328

347411481594553

74091896910858

9581,0641,1051,1051,302

1,2511,2261,3661,4291,540

Imports for consumption

To-tals*

367255174110121136

170202251163190

212268232283

342403474593551

730904899902860

9541,0561,1021,1011,284

1,2511,2211,3541,4171,536

Food-stuffs

805844343543

5361714850

47585284114

96110139167173

221258263274276

260267274288285

274277297310316

In-dus-trialmate-rials

20413485485964

8310213480103

131175142143149

176222252317274

384488462444400

477521534489569

539522561574615

Fin-ishedman-ufac-tures

836346,282729

3439463537

3435385662

697182

109104

125158174183183

217268294326431

43842349653260J

Mer-chan-dise

tradesur-plus

706528241940

193

229572

116150443798860

470401797460451

247204112213

380520259

64

453379434553


284


TABLE B-80.—United States merchandise exports and imports, by economic class, 1929-64-Gontinued


Year or month

Merchandise exports

Total ex-ports (in-cluding

reexports)

Sea-son-allyad-

justed

Un-ad-

justed

Domestic exports

Total*Food-stuffs*

In-dus-trial

mate-rials

Fin-ished

ufac-tures 1

Sea-son-allyad-

justed

Merchandise imports

Generalimports

Un-ad-

justed

Imports for consumption

Totals

1,1401,3631,4191,4501,4371,328

1,5051,4791,3751,5781,4211,509

1,4651,3221,5671,5551,4341,577

1,6151,4911,5681,6441,655

Food-stuffs

208323317317299279

313304323367316356

294267353342297303

294280320351379

In-dus-trial

mate-rials

519549576586594560

599628546600538599

617561613611581632

659625614628620

Fin-ished

ufac-tures

Mer-chan-dise

tradesur-plus

1963: Jan_.Feb.Mar.Apr.May.June.

July.Aug_Sept.Oct..Nov.Dec_

1964: Jan..Feb.Mar.Apr.MayJune

July.Aug.SeptOct..Nov.

2,1221,9661,9171,8971,789

1,8301,901

1, 9521,9522,055

2,0482,0362,0862,0552,0622,013

2,1182,0852,2712,1342,184

2,0182,0641, 9722,0791,783

1,7201,8171,7732,0292,0362,098

2.0312,0012,1362,1302,2152,040

2,0461.8972,0852,2552,183

9441,9942,0371,9452,0541, 759

I,1

1,7931,7512,0052,0112,075

2,0041,9732,1082,0932,1842,008

2,0201,8692,0582,2262,158

140322347360375279

294283289354363364

355347364367378308

294308348367390

237525501469513463

461518500575574588

554534550540562557

515569638615

5671,1471,1891,1161,1661,016

944992962

1,0761,0741,122

1.0951,0921,1931 , '•'"

1,2431,1"*

1,1341,0451,1411,2211,154

1,0921,4971,4871,4171,4201,421

1,.1,5081,4501,4591,4651,478

1,4221,U51,5231,5421,5481,506

1,59(11,5921,5581,5511,698

1,1171,3861,4631, 4541,4601,357

1,5031,4581 , ; • " "

1,5911,4251,530

1,4471,3381, 5921,5621, 4581,596

1,6121,4921,5621,6131,672

412491526547544489

593547506612567554

553494601603556642

662585634665656

-104625479500477368

372393538493487577

621591563513514507

528493713583486

1 Starting with 1950, figures shown exclude Department of Defense shipments of grant-aid militaryequipment and supplies under tl - - • • - •• - - --.- . .include shipments under specialLease (1941-1947), Greek-Turkish(1947-1948). Figures for 1948 and subsequent years also include Department of the Army civilian supplyshipments. Data for 1963 and 1964 were adjusted to include inadvertent omissions due to incompletetransmittals of Shipper's Export Declarations from an individual Customs port which resulted in an under-counting.

2 The grant-aid military shipments excluded beginning with 1950 (see note 1 above) have been deductedentirely from "Finished manufactures." Private relief shipments of foodstuffs are included in "Finishedmanufactures" prior to 1941 and in "Foodstuffs" thereafter.

3 Data for 1947-1959 have been adjusted to include imports of uranium ore.< "General imports" through 1932, "Imports for consumption" thereafter.5 Preliminary, based on data for January-November.Source: Department of Commerce, Bureau of International Commerce.

757-981 O—65 285


TABLE B-81.— United States merchandise exports and imports, by area, 1959-64 l


Area

Exports (including reexports): Total 2

CanadaOther Western HemisphereWestern EuropeSoviet bloc 3

Other EuropeAsiaAustralia and OceaniaAfrica

General imports: Total

CanadaOther Western HemisphereWestern EuropeSoviet bloc3

Other EuropeAsiaAustralia and OceaniaAfricaUnidentified countries 4

1959

15,926

3,7483,7774,535

897

2,756323

15,627

3,3524,0294,523

814

2,60333867920

1960

18,892

3,7093,7706,318

19413

3,646475766

15,017

3,1533,9644,185

812

2,721266627

19

1961

19,143

3,6433,7206,287

13315

4,111403831

14,713

3,2703,7254,058

812

2,582320672

4

1962

19, 521

3,8333,5826,381

12516

4,125478

16,389

3,6603,9314,539

792

2,96044075425

1963

21,079

4,1193,5466,937

16711

4,786523990

17,142

3,8294,0254,726

812

3,193502777

January-October

1963 1964

17,134

3,4042,9035,623

1219

3,858415802

14,187

3,1673,3293,865

702

2,675427647

5

19,803

3,9223,3556,412

31211

4,203595993

15,272

3,5033,3784,208

812

2,96836975210

i Data for all periods have been adjusted to include imports of uranium ore and exports of uranium andother nuclear materials. Imports from Canada and the Republic of South Africa have been adjusted forall periods for such imports. Data on imports of uranium ore from other countries are not available priorto 1961.

* Excludes special category items.' U.S.S.R., Poland, Bulgaria, Rumania, Czechoslovakia, East Germany, Hungary, Albania, Estonia,

Latvia, Lithuania.4 Consists of certain low-valued shipments and uranium and thorium imports, not identifiable by country.

Source: Department of Commerce, Bureau of International Commerce.

286


TABLE B-82.—Major U.S. Government foreign assistance, by type and by area, total postwtperiod and fiscal years 1960-64

[Fiscal years, billions of dollars]

Fiscal year

Total, net

Total postwar !

1960 -1961196219631964 2

Investment in four interna-tional financial institutions *

Total postwar *I960-19611962196319642

Under assistance programs, netTotal postwar J

I9601961196219631964 2

Net grants of military suppliesand services

Total postwar 1

I9601961196219631964 2 ._ . . .

Other aid, netTotal postwar !

19601961196219631964 2 _

Net grants (less conversions)Total postwar 1 _ _1960 _1961 _. -19621963 _ _1964 2

Net credits (including conver-sions)

Total postwar J _19601961196219631964 2

Other assistance (through netaccumulation of foreign cur-rency claims) 5

Total postwar *I960 . .1961196219631964 2

Total

95.14.24.05.24.94.5

1.2.1.1. 2.1

1

93.94 13.95 14.84.4

33.32.01.71 61.71.2

60.52.12 23.43 03.1

41.11 61.81 91.42.0

16.1.1

1.41.41.1

3.4.4.4.2.2.1

WesternEurope

(excludingGreece

andTurkey)

39.7.4

- . 1.4

- . 1.1

39.7,4

- . 1.4

- . 1.1

15.7.8.6.3.5.2

24.0- . 3— 6

- . 1

17.2.2.1.1

6.2- . 4- . 7- . 1- . 7- . 2

.5— 1

$

Near East(including

Greeceand

Turkey)and South

Asia

18.51.51.61.62.12.2

18.51.51.61.62.12.2

5.5.4.3.3.4.3

13.01.11.31.31.61.9

6.9.4.6.7.6.8

4.5.3.4.6

1.01.1

1.7.3.3

OtherAfrica

2.0.2.2.4.3.5

2.02

.2

.4

.3

.5

.1

88

1.9.2.2.33

.5

1.3.1.2.3.3.4

.5(4)w . i

l l

. 1(J)(4)

Far Eastand

Pacific

23.91.51.51.51.5.9

23.91 61.51.51.5.9

10.7.7.7.8.7.6

13.2.7.8.7.8.3

11.3.7.7.6.1.3

1.6(4)

!i.6

(4)

.4(4)Y

. 1(4)

AmericanRepub-

lics

5.6.3.4

1.0.7.5

5.6.3.4

1.0.7.5

.9

.1

.1

.1

.1

4.7.2.3.96

.4

1.5.1.1.1.2.3

2.9.1.2.6.4.1

.3

.1

.1

.1

Interna-tional or-

ganiza-tions andunspeci-

fied areas

5.3.3.4.4.4.3

1.2.1

I. 2. 1.1

4.12

.3

.2

.3

.2

.4U\

(*)

(*)(*)

3.8.2.3.2.3.2

2.9.1.2.2.2.2

.4

(4)(*)

.1

.5

.1

.1

.1

.1

i years 1946-64.2 Preliminary.3 Represents paid subscriptions to Inter-American Development Bank, International Bank for Recon-struction and Development, International Development Association, and International Finance Cor-poration.4 Less than $50 million.6 Other assistance (net) represents the transfer of United States farm products in exchange for foreigncurrencies, less the U.S. Government's disbursements of the currencies as grants, credits, or for purchases.Also includes the foreign currency claims acquired by the Government as principal and interest collectionsthat are available for the same purpose as farm sales proceeds, since enactment of Public Law 87-128.


287


TABLE B—83.—Gold reserves and dollar holdings of foreign countries and international organizations,1949, 1953, and 1959-64

[Millions of dollars; end of period)

Area and country

Total

Continental Western Europe...AustriaBelgiumFranceGermanyItalyNetherlandsScandinavian countries

(Sweden, Norway, Den-mark, and Finland)

SpainSwitzerlandOther

United Kingdom

Canada

Latin AmericaArgentinaBrazilChile.ColombiaCuba.MexicoPeruUruguayVenezuelaOther

AsiaJapanOther

All other countries

International and regional

1949

18,668

92818733149570370

394132

2,067

773

2,027

1.5163,07241251010113846327082236517343

2,008305

1,703

679

3,268

1953

9,920249915

1,2041,224821981

740169

2,174

1,443

3,204

2,5093,679504425122236570345104338597438

2,865918

1,947

1,105

3,616

1959

42,245

19,248630

1,2791,9804,6403,1191,634

1,139157

2,991

1,679

3,827

3,6104,014393479228288296587111242932458

4,0081,5312,477

1,313

6,225

1960

46,332

21,094539

1,3142,1656,4503,0801,783

1,018328

2,957

1,460

4,887

3,7703,53342048318023779541114232800447

4,4462,1372,309

1,251

7,351

1961

2 49,561

23,797561

1,5823,1146,5093,4591,800

1,269470

3,518

1,515

4,930

4,1633,55642651415323644612132238820381

3 4,418s 1,962

2,456

1,436

7,261

1962

52,541

25,063783

1,5423,7476,4123,6271,830

1,317624

3,658

1,523

4,561

4,446

3,41127243017820616

630152282807438

5,0362,4872,549

1,764

8,260

1963

55,396

26,879904

1,7914,6596,8853,1471,965

1,443780

3,8011,504

4,295

4,492

4,07745332918623212810215284992564

5,5902,7482,842

1,887

8,176

1964

Sep-tember^

57,215

27,454950

1,8215,1006,4383,2261,967

1,670974

3,731

1,577

4,624

4,5584,16938633022422710809271280

1,077555

6,0812,8523,229

1,906

8,423

1 Preliminary.»Total dollar holdings include $82 million reported by banks initially included as of December 31, 1961, of

which $81 million reported for Japan.

NOTE.—Includes gold reserves and dollar holdings of all foreign countries (with the exception of goldreserves of U.S.S.R., other Eastern European countries, and Communist China), and of internationaland regional organizations (International Bank for Reconstruction and Development, International Mone-tary Fund, Inter-American Development Bank, European Investment Bank and others). Holdings ofthe Bank for International Settlements and the European Payments Union/European Fund and the Tri-partite Commission for the Restitution of Monetary Gold are included under "other" Continental WesternEurope.


288


TABLE B-84.—United States gold stock and holdings of convertible foreign currencies by U.S.monetary authorities, 1949-64

[Millions of dollarsl

End of year or month

1949

19501951195219531954

195519561957.19581959

19601961196219631964 3

1963: Jan...F e b -Mar.

June.

July.Aug.Sept.Oct..Nov.D e c

1964: Jan..Feb.Mar.Apr-May.June.

July.Aug.Sept.Oct..Nov.

Total

24,563

22,82022,87323,25222,09121,793

21,75322,05822,85720,58219,507

17,80417,06316,15615,80815,903

16,10216,02316,07816,04616,00915,956

15,76415,72515,78815,91015,78015,808

15,84715,86515,99015,99115,94615,805

15,84015,89015,87015,70216,32415,903

Gold stock i

Total'

24,563

22,82022,87323,25222,09121,793

21,75322,05822,85720,58219,507

17,80416,94716,05715,59615,471

15,97415,89115,94615,91415,85415,830

15,67715,63315,63415,64015,60915,596

15,54015,51815,55015,72715,69315,623

15,62915,65715,64315,60615, 56615,471

Treasury

24,427

22,70622,69523,18722,03021,713

21,69021,94922,78120,53419,456

17,76716,88915,97815.51315,388

15,92815,87815,87815,87715,79715,733

15,63315,58215,58215,58315,58215,513

15,51215,46215,46115,46215,46315,461

15,46215,46015,46315,46115, 38615,388

Foreigncurrencyholdings

11699

212432

128132132132155126

8792

154270171212

307347440264253182

21123322796

758432

1 Includes gold sold to the United States by the International Monetary Fund with the right of repur-chase which amounted to $800 million on December 31, 1964.

2 Includes gold in Exchange Stabilization Fund.' Preliminary.

Sources: Treasury Department and Board of Governors of the Federal Reserve System.

289


TABLE B-85.—Price changes in international trade, 1956-64

[1958=1001

Area or commodity class 1956 1957 1958 1959 1960 1961 1962 1963

1964

Thirdquarter

Area:Developed areas:

ExportsTerms of trade 1 -

United States:ExportsTerms of trade l -

Undeveloped areas:ExportsTerms of trade *

Latin America:Exports..Terms of trade l

Latin America excluding petroleumExportsTerms of trade >

Commodity class: 3

Manufactured goods

Nonferrous base metals

Primary commodities: Total

FoodstuffsCoffee, tea, cocoaCereals

Other agricultural commodities._...Fats, oils, oilseedsTextiles

WoolMinerals

Metal ores

10097

104104

111111

115116

138

105

101106102

114109123129

105

103

101

104100

107105

111109

101111

106

103103100

113105126144

103107

100100

100100

100100

100100

100100

100100

100

100100100

100100100100

100100

102

101102

97

99111

97

938397

105100

98106

9497

100103

101102

95

101114

97

10794

104108

93

101104

103105

95

102110

95

907298

10397

105107

92100

101105

103107

102109

94

9070

103

9989

101106

92

102105

103106

103110

100

10373

102

10395

112127

9296

103104

104104

9797

M022 104

2 1052105

104139

101

10387

104

10498

113125

95106

1 Terms of trade indexes are unit value Indexes of exports divided by unit value indexes of imports.2 Data are for second quarter.> Commodity price indexes relate to exports.NOTE.—Data shown for area groups and for manufactured goods are unit value indexes. All others

are price Indexes.Data exclude trade of Soviet area and Communist China.Sources: United Nations and Department of Commerce (Bureau of International Commerce).

For sale by the Superintendent of Documents, U.S. Government Printing OfficeWashington, D.C., 20402 - Price $1.25

290
